Japan's Inpex Corporation (Inpex) says that through its wholly-owned subsidiary, Inpex Offshore South West Sabah, Ltd., has reached an agreement to transfer 10 percent of its participating interest in the Deepwater Block R (the Block) to Santos Sabah Block R Limited, a subsidiary of Santos Limited (Santos).

Santos Sabah Block R Limited also separately agreed to acquire a 10 percent participating interest in the Block from JX Nippon Oil & Gas Exploration (Deepwater Sabah), Limited (JX), bringing its total participating interest in the Block to 20 percent upon fulfillment of due procedures.

Tags: Inpex Corporation, Santos