Bonaparte CCS project offshore Australia enters FEED as INPEX moves to increase stake

The Bonaparte CCS project offshore northern Australia has entered FEED, with INPEX set to become majority owner and operator of a development that could store up to 443 million metric tons of CO₂ and support regional decarbonization efforts.

Jeremy Beckman

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INPEX

Oct. 29, 2026

2 min read

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Why this news matters:

The project has the potential to store up to 443 million metric tons of CO₂, making it one of the larger proposed offshore CCS developments in the Asia-Pacific region.
Entry into FEED marks a significant step toward commercial development and a targeted first CO₂ injection in the early 2030s.
The project could reduce emissions from the Ichthys LNG development by about 40%, highlighting the growing role of CCS in decarbonizing offshore oil and gas operations.

Conceptual illustration of the Bonaparte CCS project — This AI-generated illustration of the Bonaparte CCS project offshore northern Australia depicts offshore infrastructure and the injection of captured CO₂ into deep geological formations beneath the seabed for long-term storage.

INPEX Browse E&P and partners TotalEnergies and Woodside Energy have started front-end engineering design (FEED) work for the Bonaparte Carbon Capture and Storage (CCS) project in northern Australia.

The planned storage site is in the Bonaparte Basin, 250 km offshore Darwin.

INPEX Browse E&P will transfer its 53% operating interest to the newly formed INPEX Bonaparte CCS. And the company has an agreement to also acquire Woodside’s 21% interest in the project, which would increase INPEX’s stake to 74%.

The joint venture was formed in 2022 to appraise greenhouse-gas storage in the G-7-AP acreage and has since conducted technical and appraisal studies.

What is...?

What is CCS?

CCS involves three main stages: capturing CO2 at industrial sites, transporting it via pipelines or ships, and securely storing it underground.

Spinergie

March 20, 2026

According to INPEX, the proposed offshore site could store up to 443 million tons of CO₂ over the life of the project. And by using existing energy infrastructure, the project could serve as a low-carbon hub for local markets in Southeast Asia.

Earlier this month, the Australian authorities issued a Declaration of Identified Greenhouse Gas Storage Formation approval for the development.

Currently the partners are aiming for first CO₂ injection in the early 2030s, subject to clinching regulatory approvals and commercial agreements.

The INPEX-led Ichthys Joint Venture would likely be the anchor client, with the project potentially reducing CO₂ emissions from Ichthys LNG by about 40%.

Contributors:

Ariana Hurtado

About the Author

Jeremy Beckman

Staff Writer / Editor, Europe

Jeremy Beckman has been Editor Europe, Offshore since 1992. Prior to joining Offshore he was a freelance journalist for eight years, working for a variety of electronics, computing and scientific journals in the UK. He regularly writes news columns on trends and events both in the NW Europe offshore region and globally. He also writes features on developments and technology in exploration and production.