The Bonaparte carbon capture and storage (CCS) joint venture has commenced front-end engineering design (FEED) work on the Bonaparte CCS Project, marking a major step towards the development of the project.
The decision marks a progression towards a final investment decision for what could become one of the world’s largest carbon storage developments.
Subject to regulatory approvals, the offshore facility, located in the Bonaparte Basin, boasts a potential carbon storage capacity of up to 443 million tonnes over its operational lifespan.
Alongside the FEED entry, joint venture operator INPEX has agreed to acquire Woodside Energy’s 21 per cent participating interest in the project.
Under the agreement, INPEX Browse E&P Pty Ltd is transferring its stake to a new entity, INPEX Bonaparte CCS Pty Ltd, which will acquire Woodside’s share.
The move increases INPEX’s total participating interest to 74 per cent, alongside TotalEnergies CCS Australia Pty Ltd, which holds the remaining 26 per cent. Both ownership transfers remain subject to Australian regulatory approvals.
INPEX Managing Director and Country Chair Australia, Tetsu Murayama, stated that appraisal results for the site had exceeded expectations, demonstrating clear momentum for the low-carbon hub.
“Achieving FEED entry is a significant milestone and provides a clear demonstration of progress towards a final investment decision on the Bonaparte CCS Project, which has the potential to be one of the world’s largest carbon storage developments,” Murayama said.
The Bonaparte CCS Project achieved Major Project Status from the Australian government in mid-2025 and secured its Declaration of Identified Greenhouse Gas Storage Formation approval in October 2026. Target initial carbon dioxide injection is slated for the early 2030s, with the Ichthys Joint Venture expected to serve as the anchor customer.
The project is anticipated to reduce carbon emissions from Ichthys LNG operations by roughly 40 per cent, aligning with INPEX Vision 2035 decarbonisation targets.
CCS technology continues to gain momentum across Australia as an essential tool for reducing emissions in hard-to-abate industrial sectors where electrification is impractical.