Inpex Americas capex to hit US$631mn through 2014

Thursday, May 12, 2011

Japanese company Inpex's planned capex for the Americas through March 2014 reaches 51bn yen (US$631mn), according to a presentation by president Toshiaki Kitamura.

Of the total, 23bn yen is for the year ending March 2012, 13bn yen for the 12 months ending March 2013, and 15bn yen for the year ending March 2014. Capex in the Americas for the year ended March 2011 totaled 10.7bn yen.

Inpex's net production from the Americas for the year ended March 31, 2011 represented 5% of the group's total net production of 423,000boe/d, the same percentage at end-March 2010.

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The company's net production share projection for the Americas in 2016 is 5% of the 435,000boe/d expected that year.

Inpex's proved reserves in the Americas represented 2% of the group's total proved reserves of 1.31Bboe at end-March this year versus 3% at end-March 2010 when total proved reserves stood at 1.48Bboe.

The company's Americas portfolio covers Brazil, Canada, Ecuador, Suriname, the US and Venezuela.