INPEX-led Bonaparte CCS project enters FEED phase in Australia

Photo: INPEX

BAKU, Azerbaijan, October 23. Japan’s INPEX Corporation and its partners have commenced front-end engineering design (FEED) work for the Bonaparte Carbon Capture and Storage (CCS) Project offshore northern Australia, marking a key step towards a potential final investment decision, INPEX said on October 23.

The project is located in the Bonaparte Basin, approximately 250 kilometres offshore Darwin, and could store up to 443 million tons of CO₂ over its lifetime, INPEX said.

The project is being developed by the Bonaparte CCS Joint Venture, originally comprising INPEX Browse E&P Pty Ltd, with a 53% interest, TotalEnergies CCS Australia Pty Ltd (26%) and Woodside Energy Ltd (21%). As the project enters the FEED phase, INPEX has agreed to acquire Woodside’s 21% participating interest, increasing its own stake to 74%, subject to regulatory approvals and other conditions. INPEX Browse E&P is transferring its existing interest to a newly formed entity, INPEX Bonaparte CCS Pty Ltd.

“Achieving FEED entry is a significant milestone and provides a clear demonstration of progress towards a final investment decision,” the company said.

The project aims to transport and permanently store CO₂ captured from industrial sources, with the Ichthys LNG joint venture expected to serve as its anchor customer. According to INPEX, the project could reduce CO₂ emissions from Ichthys LNG by around 40%.

The company said the first CO₂ injection is targeted for the early 2030s, subject to regulatory approvals and commercial agreements.

The project received Major Project Status from the Australian Government in mid-2025, becoming the country’s first offshore CCS project to obtain the designation. In October 2026, it also received approval for the declaration of an identified greenhouse gas storage formation.

INPEX said the development could support the establishment of a regional low-carbon hub by leveraging offshore geological resources, existing energy infrastructure and proximity to major regional markets. The project also supports the company’s INPEX Vision 2035, which includes expanding its lower-carbon solutions business.