INPEX has started front-end engineering design (FEED) for Bonaparte CCS offshore Australia and agreed to acquire Woodside Energy’s 21% stake in the development. The company confirmed both steps in its FEED announcement on 23 October 2026.
The acquisition would increase INPEX’s interest from 53% to 74%. TotalEnergies CCS Australia Pty Ltd holds 26%. Completion remains dependent on conditions that include clearance from the relevant authorities in Australia.
The transaction will be handled by the newly established INPEX Bonaparte CCS Pty Ltd, which has signed the purchase agreement with Woodside. The new subsidiary will also receive the existing interest held by INPEX Browse E&P Pty Ltd. That transfer is also subject to conditions, including government approvals.
Bonaparte CCS is located in the Bonaparte Basin, roughly 250 kilometres from Darwin. INPEX estimates that the development could accommodate up to 443 million tonnes of CO₂ across its operating life, subject to regulatory approval.
The venture targets initial CO₂ injection in the early 2030s. Meeting that target depends on obtaining the necessary permissions and securing commercial agreements. The Ichthys Joint Venture is expected to become the main customer, and INPEX estimates that Bonaparte could reduce CO₂ emissions from Ichthys LNG by around 40%.
The partners formed the venture in 2022 to evaluate storage acreage G-7-AP. The Australian government designated Bonaparte a Major Project in mid-2025. Approval of its Declaration of Identified Greenhouse Gas Storage Formation followed in October 2026.
