Bonaparte CCS enters FEED after storage declaration; INPEX agrees stake purchase

The Bonaparte Carbon Capture and Storage Joint Venture said on 23 October it had commenced front-end engineering design (FEED) for its offshore project, about 250 kilometres from Darwin. At that date the venture interests were INPEX Browse E&P, operator, 53%; TotalEnergies CCS Australia, 26%; and Woodside Energy, 21%. INPEX and Woodside also agreed that INPEX would acquire Woodside’s interest. The transfer is conditional on regulatory approvals and other conditions; 74% is therefore the proposed post-completion interest, not the current ownership position.

The FEED announcement followed an Australian Government storage milestone announced by the venture on 16 October. The earlier release said the government had declared an identified greenhouse-gas storage formation for the project. INPEX described it as Australia’s first such declaration for an offshore saline-aquifer storage site and said it established technical viability of the potential site for injection and storage operations. The declaration is a regulatory milestone for the formation; it does not itself amount to a final investment decision, construction approval, or proof that planned injection volumes will be achieved.

The October 23 release describes a potential storage capacity of up to 443 million tonnes over the project’s life. INPEX targets first carbon-dioxide injection in the early 2030s, subject to approvals and commercial agreements, and expects the Ichthys Joint Venture to be the anchor customer. It estimates the project could reduce Ichthys LNG emissions by around 40%. Capacity, injection timing, customer role and emissions reduction are company projections, not operating results or contracted outcomes stated in the release.

The company says the joint venture was formed in 2022 to assess storage potential in the Bonaparte Basin and has undertaken technical and appraisal work. Entry into FEED marks the next engineering and project-definition phase ahead of an investment decision. It does not mean construction has started. The releases do not identify a FEED contractor, disclose the FEED contract value or give a final construction cost. Nor do they report a final investment decision.

The two October announcements describe distinct steps: the government’s storage-formation declaration preceded the JV’s FEED commencement and the proposed ownership change. The ownership transfer remains conditional, while the project’s injection date and emissions benefit remain future targets. The verifiable current developments are the start of FEED work, the government declaration and the signed agreement to transfer Woodside’s 21% interest, each with the stated conditions.

Sources

1. Bonaparte CCS Joint Venture advances its large-scale carbon capture and storage project into FEEDCompany releaseINPEX Browse E&P Pty Ltd / Bonaparte CCS Joint VenturePublished 23 October 2026Read 25 October 2026
2. Bonaparte CCS Project achieves greenhouse gas storage milestoneCompany releaseINPEX Browse E&P Pty Ltd / Bonaparte CCS Joint VenturePublished 16 October 2026Read 25 October 2026

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