TOKYO, Japan - Operator INPEX Corp. has delayed the expected production start-up schedule while raising the anticipated production capacity of its Ichthys LNG gas condensate field, located offshore Australia.
Production is now expected to start in Q3 2017 after the initial target was December 2016.
Meanwhile, INPEX will raise the annual LNG production capacity by approximately 6% to 8.9 mtpa from the initially planned 8.4 mtpa.
While the project’s overall development was approximately 74% complete as of June 2015, INPEX updated Ichthys' production start schedule based on the findings of a detailed review of the project’s development schedule. The company will continue to diligently proceed with development work while prioritizing safety.
It is expected that the revised production start-up schedule and other factors will increase the project’s investment. However, the increase is expected to be limited to about 10%.
INPEX anticipates that the annual LNG production capacity will increase by approximately 6% to 8.9 mtpa from the initially planned 8.4 mtpa. This increase in production capacity is based on the company’s recent technical evaluation of the latest technological information pertaining to the entire LNG production system. In addition, the updated schedule reflects the expectation of a shortened time frame between the start of production and the point where stable production is reached.