Japanese oil and gas exploration and production firm Inpex, through its subsidiary Teikoku Oil (North America), has increased its stake in the Anadarko Petroleum-operated Lucius deep-water field in the US Gulf of Mexico.
The company’s participating interest in the field, located in the Keathley Canyon block, now stands at 7.75309% following the acquisition and the interim redetermination of equity ownership by the project partners.
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Energy firm Apache has recently agreed to sell its 11.669% participating interest in the project to Freeport-McMoRan Oil & Gas.
Inpex and other interested parties exercised preferential rights, dividing Apache’s stake between the three firms by the ratio of their participating interests.
Located approximately 380km south-west of Port Fourchon, Louisiana, the Lucius project is spread over parts of Keathley Canyon blocks 874, 875, 918 and 919, with a three-way closure against a salt barrier.
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In December 2011, a final investment decision (FID) was made by the Lucius partners to develop the project.
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By GlobalDataDevelopment work is currently underway and production is expected to start in the latter half of 2014.
The Lucius field was discovered in December 2009 using the Ensco 8500 semi-submersible rig.
The discovery well, which was drilled to a depth of 20,000ft in approximately 7,100ft of water, encountered 200ft of net pay in subsalt Pilocene and Miocene sands of Keathley Canyon block 875.
Image: The Lucius project is spread over parts of Keathley Canyon blocks 874, 875, 918 and 919. Photo: courtesy of Inpex.
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