Inpex’s subsidiary, Teikoku Oil (North America) Co., Ltd., has acquired an additional participating interest in the Lucius deepwater US Gulf of Mexico project. Following this acquisition and the interim redetermination of equity ownership by the project partners, INPEX's participating interest in the Lucius project stands at 7.75309%.

INPEX's increased participating interest follows the May 2014 decision by Apache Corporation (Apache) to sell all its participating interest in the project, amounting to 11.669%, to Freeport-McMoRan Oil & Gas. In accordance with the Lucius Unit Operating Agreement (UOA), Apache opened its sales offer to all interest holders.

Tags: Inpex Corporation