INPEX Corporation (INPEX) recently announced that the INPEX-operated Ichthys LNG Project’s carried out an inspection mainly on electrical equipment during the process of final safety verifications in cooperation with Australian regulators, in preparation for the start-up of production. The Project has already completed the necessary commissioning of all key onshore and offshore facilities for production start-up.
Following additional verifications concerning the electrical equipment, the Project is scheduled to commence production, and will thereafter begin shipment of products towards the end of the first half of the current fiscal year.
While the Project’s activity schedule going forward may fluctuate depending on weather conditions at the worksites, preparation activities and other factors, INPEX will continue to work towards the success of the Ichthys LNG Project with the understanding and cooperation of all its stakeholders, including the Project’s joint venture participants, local communities, the Australian Federal Government and the governments of Western Australia and the Northern Territory.
The impact of this matter on the consolidated financial results forecasts for the year ending March 2019 is currently being evaluated taking into account the oil price outlook and other factors, and will be announced immediately if forecasts are revised.