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Inpex

INPEX Corporation
Public KK (listed as INPEX Holdings Inc. : )
Industry Petroleum
Founded 1941 (as Teikoku Oil)
1966 (as North Sumatra Offshore Petroleum Exploration)
Headquarters Akasaka Biz Tower 5-3-1 Akasaka, Minato-ku, Tokyo 107-6332 Japan
Key people
Kunihiko Matsuo, Chairman
Naoki Kuroda, President
Revenue Increase ¥ 1,202.965 billion JPY (FY 2007)
Increase ¥ 173.245 billion JPY (FY 2007)
Number of employees
2,146 (784 temporary workers) (2011)
Website www.inpex.co.jp

INPEX Corporation is a Japanese oil company established in February 1966 as North Sumatra Offshore Petroleum Exploration Co., Ltd.

INPEX was listed on the first section of the on November 17, 2004. At that time the indebted Japan National Oil Corporation (JNOC), now part of the Japan Oil, Gas and Metals National Corporation which owned a 53.96% stake in Inpex, put up for sale 343,725 shares (17.9 percent of Inpex's 1.92 million outstanding shares). It was the second of JNOC's subsidiaries to go public, after the Japan Petroleum Exploration Company in December 2003.

On April 3, 2006, INPEX Corporation and Teikoku Oil merged to form INPEX Holdings. On October 1, 2008, the merger process was completed with Inpex Corporation being formed from INPEX Holdings, INPEX, and Teikoku Oil, and the headquarters were moved to Akasaka, Tokyo.

In the fiscal year 2011 the company had 2,146 staff, with 784 temporary employees.

As of March 31, 2010, the INPEX Labor Union has 1,030 members. The company has a labor-management council and regular meetings are held.

The main focus of the company's operations in Japan is the Minami-Nagaoka Gas Field in Niigata Prefecture.

INPEX created a venture company called INPEX Browse, Ltd on 1 September 1998. This was for a previously wholly owned INPEX project in the offshore Basin off the north west coast of Western Australia where a gas-field was discovered in the WA-285-P permit area. The official name of the proposed development project will be the Ichthys (gas-field) Development, which the company wanted to base on the Maret Islands. After farming out 24% of the permit ownership to Total S.A.'s subsidiary Total E&P Australia the concept and location was changed.

The location of this project, and the issue of industrialising the Kimberley coast is under discussion in Australia. Environmentalists and local ecotourism operators are concerned about industrial infrastructure destroying the pristine nature of this coast line.

The original project consisted of an offshore Central Processing Facilities (CPF), supplying two phase gas to an onshore facility on the Maret Islands. The facilities on the Maret Islands were to include gas receiving, LNG process plant (2 x 3.8Mtpa trains), product storage and export facilities. Maret Islands are located approximately 200 km south-east of the lchthys Field, which is approx. 440 km north of Broome and 800 km south west of Darwin.


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