Inpex Exits Lucius, Hadrian North Fields in U.S. Gulf of Mexico

Bartolomej Tomic
Friday, September 2, 2022

Japanese oil and gas company Inpex has transferred its entire stakes in two U.S. Gulf of Mexico offshore oilfields to project partners.

The company has transferred its 10.1% stake in the Lucius Field located in the US Gulf of Mexico’s Keathley Canyon blocks 874,
875, 918 and 919, and the Hadrian North Field located in KC blocks 918 and 919, to Anadarko US Offshore LLC (a subsidiary of Occidental Petroleum Corporation), Murphy Exploration & Production Company – USA, and Eni.

INPEX joined the Lucius Project in June 2012 and has been engaged in the development, production and marketing of crude oil and natural gas under the operatorship of Anadarko. 

"However, with a view to optimize the INPEX Group’s global asset portfolio, INPEX reached a decision to transfer its participating interest in the Lucius Project to the project partners. The impact of this matter on INPEX’s consolidated financial results is minimal," Inpex said.

The sale comes after Inpex in 2021 acquired 2.3546% interest in the Lucius and Hadrian North fields previously held by ExxonMobil.

This acquisition increased Inpex's participating interest in the Lucius and Hadrian North fields from 7.75309 percent to 10.10769 percent.

The company at the time said that the "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." 

The Lucius field is located about 380 kilometers offshore Louisiana, where the water is approximately 2,200 meters deep. Production of crude oil and natural gas at the Lucius Field began in January 2015. The Hadrian North Field, which lies in the vicinity of the Lucius Field, was unitized with the Lucius Field in 2017 and has been jointly developed with the Lucius field using the Lucius field’s spar platform. 

Production of crude oil and natural gas at the Hadrian North Field began in April 2019. The crude oil and natural gas produced from the two fields are processed at a production facility positioned offshore with a daily processing capacity of approximately 80,000 barrels of crude oil and approximately 4.5 million cubic feet of natural gas, transported and shipped to an onshore facility in Louisiana via subsea pipelines.

 

Credit: Inpex

Categories: Energy Industry News Activity Production North America Gulf of Mexico

Related Stories

Woodside to Shed Some Trinidad and Tobago Assets for $206M

CNOOC Sees 11% Profit Growth in 2024 Driven by Record Oil Production

CNOOC Starts Production at Two New Oil and Gas Projects

All Gas from Conrad’s Mako Field to be Sold to Indonesia’s PLN

Shell Launches Next Phase of Malaysia's Deepwater Project with First Oil Production

Shell Predicts 60% Rise in LNG Demand by 2040 with Asia Leading the Way

CNOOC Brings Online Second Phase of Luda Oil Field Project in Bohai Sea

Santos Hires Weststar-GAP for Timor-Leste Offshore Helicopter Services

CNOOC’s South China Sea Oil Field Goes On Stream

China’s CNOOC Brings Bohai Sea Oil Field On Stream

Current News

Mitigate SCC & HE to Keep Offshore Metal Structures Ship Shape

India Stretches Bids Deadline for 13 Offshore Deep-Sea Mineral Blocks

Indonesia Awards Oil and Gas Blocks to Boost Reserves

Sapura Energy Nets $22.6M in Offshore Support Vessel Contracts

CNOOC Puts Into Production New Oil Field in South China Sea

Sunda Energy Starts Environmental Consultation for Chuditch-2 Well Drilling Plans

Pakistan’s OGDC to Start Production at ADNOC’s Offshore Block by 2027

Petrovietnam, Petronas Extend PSC for Offshore Block

Sapura Energy Scoops Close to $9M for O&M Work off Malaysia

Hanwha Ocean Marks Entry into Deepwater Drilling Market with First Drillship

Subscribe for AOG Digital E‑News

AOG Digital E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

https://accounts.newwavemedia.com