A tender was floated by the company for the right to pursue exploration following the release of acreage in June and July last year by the Northern Territory government.
Inpex Australia Ventures director Tony Pytte said the onshore acreage (area EPNT14-1) is located in the highly prospective Beetaloo Basin, approximately 500km south east of Darwin.
Pytte said: "While INPEX’s primary focus remains the delivery of the flagship Ichthys LNG Project, this announcement opens the door to possible greater INPEX investment in the Northern Territory (NT).
Northern Territory Chief Minister Adam Giles said: "INPEX’s multi-million dollar, five year exploration proposal promises to deliver huge economic benefits and job opportunities for Territorians, adding to extensive onshore exploration that’s already underway in the region.
The acreage area consists of 50 blocks totaling approximately 4000km2 of land near the Stuart highway in the Daly Waters area, approximately 500 km south east of Darwin.
Giles said: "The acreage became available as a direct result of the Government’s ‘use-it or lose-it’ policy which is aimed at stimulating active exploration of granted land across the Territory."
