In February, INPEX CORPORATION unveiled its updated strategy:

INPEX Vision 2035 – Realising a Responsible Energy Transition.

This vision focuses on three key growth areas:

• Expanding LNG production
• Advancing low-carbon solution including carbon capture and storage (CCS)
• Exploring new energy sector opportunities

INPEX Australia plays a central role in delivering this vision.

In addition to our plans for expanding and decarbonising our LNG operations, we are actively investing in renewable energy generation. In 2023, INPEX acquired a 50 per cent stake in Potentia Energy, gaining access to existing wind and solar assets across Australia. This marks a significant step in our commitment to a brighter energy future.

2025 maintenance shutdown

From August to October 2025, INPEX will undertake its third—and largest—maintenance campaign for the Ichthys LNG facilities. Premobilisation activities commenced in April.

The upcoming shutdown will engage 22 local companies to provide essential support services, with a total investment of A $350 million across our onshore and offshore facilities. Of this, more than A$200 million will be spent at Ichthys LNG right here in Darwin.

Our onshore workforce will temporarily grow from 600 to over 1,600, with most workers accommodated at Bladin Village, Wickham Point, and transported daily to minimise impact to the community.

Carbon capture and storage (CCS)

Carbon capture prevents carbon dioxide (CO₂) emissions from industrial sources from reaching
the atmosphere. The captured CO₂ is then compressed, transported, and safely stored deep underground in geological formations, where it remains permanently.

CCS is a vital technology for reducing emissions from existing infrastructure and helps support the transition to a lower-carbon future.

Together with our joint venture participants, TotalEnergies and Woodside Energy, we are progressing the Bonaparte CCS Project, proposed to be located 250 kilometres offshore west of Darwin. Following the successful drilling of two appraisal wells, the project commenced preliminary front-end engineering design work in April.

Preparing Ichthys LNG for CCS

INPEX aims to commence CO₂ injection around 2030, and planned upgrades at the Ichthys LNG onshore facility include:

• Infrastructure upgrades
• Establishing temporary laydown and office areas within the existing site boundary and potential offsite laydown
• Civil works
• Maintenance dredging at the module offloading facility (MOF)
• Delivery of up to seven pre-fabricated modules and up to 12 pipe racks via the MOF
• Installation, testing and preservation of new CCS compression system, including an in-plant section of CO₂ export pipeline

These proposed upgrades will enable the capture and permanent storage of CO₂, supporting our commitment to responsible energy production.

Part of the community

At INPEX, we are proud to contribute to the Northern Territory’s vibrancy and economic resilience, by working with local organisations to deliver vital programs and make a positive impact to the community through:

• Education and training programs
• Health and wellbeing initiatives
• Business capacity building
• Programs connecting and empowering the community.

Our Ichthys team in Darwin—with 600-plus dedicated team members and their families—is proud to be part of the local community. Many actively contribute to community initiatives, inspiring and mentoring Darwin’s youth through our ongoing investment in local programs.