TotalEnergies on Monday announced a partnership with Japanese firm INPEX to acquire 100% interest in AC-RL7 permit located in the Timor Sea from PTTEP.
The permit, which includes gas and condensate fields, is expected to contribute to long-term supply of the Ichthys LNG natural gas liquefaction plant. TotalEnergies holds a 26% stake in Ichthys LNG while INPEX and other Asian partners own the remaining 74%.
The acquisition aims to secure feedstock for the Ichthys LNG project, where TotalEnergies is a major partner. The permit covers an area of approximately 2,307 square kilometers and includes the Coronado and Argos gas fields.
The deal highlights efforts by TotalEnergies and INPEX to boost reserves that can support stable operations at the Ichthys LNG facility. The project is one of Australia's largest LNG export terminals and will benefit from additional gas volumes under the new permit.
