(WO) – The INPEX-operated Bonaparte CCS joint venture has started FEED on the Bonaparte CCS project in the Bonaparte basin, about 250 km (155 mi) offshore Darwin, Australia. INPEX has also agreed to buy Woodside’s 21% stake in the project, raising its own interest to 74%. TotalEnergies holds the remaining 26%.
The joint venture was formed in 2022 to appraise greenhouse gas storage acreage G-7-AP. The Bonaparte basin has a potential storage capacity of up to 443 Mt of CO₂ over the life of the project. First injection is targeted for the early 2030s, subject to regulatory approvals and commercial agreements. The Ichthys LNG joint venture is expected to be the anchor customer. INPEX said the project could cut CO₂ emissions from Ichthys LNG by about 40%.
In mid-2025, Bonaparte became the first offshore CCS project to be awarded Major Project Status by the Australian government. In October 2026, it received a Declaration of Identified Greenhouse Gas Storage Formation.
As part of the restructuring, INPEX Browse E&P is transferring its interest to a newly formed entity, INPEX Bonaparte CCS Pty Ltd, which will also acquire Woodside’s stake. Both transactions still need Australian regulatory approval. The terms of the Woodside deal weren’t disclosed.
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