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.