Inpex buys additional stake in US Gulf of Mexico fields

first_imgThe Japanese firm has increased stake in the producing Lucius and Hadrian North fields to 10.1% Hadrian North producing crude oil and natural gas since April 2019. (Credit: Kasey Houston from FreeImages) Inpex has acquired an additional stake of 2.3% in the Lucius and Hadrian North fields in the US Gulf of Mexico (GOM) from ExxonMobil.The transaction carried out by its subsidiary Inpex Americas increases the Japanese oil and gas company’s participating interest in the two producing offshore fields to 10.1%.Prior to the transaction, ExxonMobil held a stake of 23.2% in the fields.The Japanese firm stated: “Inpex’s acquisition of additional interest in the Lucius and Hadrian North fields contributes to the sustainable growth of oil and natural gas E&P activities, one of the business targets outlined in the company’s Vision 2040 announced in May 2018.“Inpex will continue to actively take part in the exploration, development and production of crude oil and natural gas in the Gulf of Mexico.”The two oil and gas fields are operated by Occidental Petroleum.The Lucius field is located in Keathley Canyon blocks 874, 875, 918, and 919, while the Hadrian North Field located in Keathley Canyon blocks 918 and 919.Located nearly 380km off the coast of Louisiana, the Lucius field has been producing crude oil and natural gas since 2015.The Hadrian North field was unitized in 2017 with the nearby Lucius Field.Since then, it has been developed jointly with the Lucius field using the latter’s production facilities.Hadrian North has been producing crude oil and natural gas since April 2019.The hydrocarbons produced from the Lucius and Hadrian North fields are processed at an offshore production facility whose daily processing capacity is nearly 80,000 barrels of crude oil and around 4.5 million cubic feet of natural gas.The processed oil and gas are transported and shipped through subsea pipelines to an onshore facility in Louisiana.last_img

Leave a Reply

Your email address will not be published. Required fields are marked *