formal inpex ann, page-6

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http://www.energycurrent.com/index.php?id=3&storyid=15317

Inpex awards Ichthys FEED
1/16/2009 3:40:58 PM GMT

DARWIN, AUSTRALIA: Inpex Corporation has awarded the JKC joint venture the front end engineering and design (FEED) onshore contract for its Ichthys liquefied natural gas (LNG) plant at Blaydin Point in Darwin, Australia. The onshore FEED services are to be performed by the JKC joint venture during 2009.

Development of the project is expected to require capital expenditures of over US$20 billion. The plant is expected to initially produce over 8 million tonnes/year (8.8 million tons/year) of LNG, about 1.6 million tonnes/year (1.7 million tons/year) of liquid petroleum gas/year and 100,000 b/d of condensate.

The Blaydin Point site has the capacity to support two initial LNG trains with an opportunity for additional LNG trains to accommodate future expansion. The first shipment of LNG is scheduled to be loaded in late 2014 or early 2015.

The KJC Joint Venture is comprised JGC Corporation, KBR and Chiyoda Corporation. Inpex President Naoki Kuroda said the award of the onshore FEED contract marked a key milestone in progressing the "world-class" Ichthys project.

"Inpex is proud to have selected the JKC joint venture to carry out the onshore FEED work as the companies collectively comprise some of the most experienced and capable LNG plant engineering and design firms in the world," Kuroda said.

Inpex is operator of the project with 76 percent interest. Total E&P is partner with 24 percent.