INPEX has sold all its shares in Teikoku Oil (DR Congo), a subsidiary, to Perenco Energies International, thereby divesting all its interests in the Offshore DR Congo Block
Through Teikoku Oil (DR Congo), INPEX had previously held a 32.28% participating interest in the Block where it had been engaged in the development and production of crude oil.
The company reached its decision to sell its shares in the operation due to an expected significant decline in productivity, given that more than 45 years have elapsed since the start of production, and a lack of prospects for expanding the operations within the Block and its vicinity from an INPEX Group asset portfolio optimisation perspective.
The impact of this matter on INPEX’s consolidated financial results is minimal and has already been factored into the forecasted consolidated financial results for the year ending 31 December 2021.
INPEX has announced that it will proactively engage in energy structure reforms towards the realisation of a net zero carbon society while fulfilling its responsibilities for the stable development and supply of energy.