INPEX CORPORATION has been engaged in oil field operations, through FJPL, an equity-method affiliate of INPEX, at the Frade oil field in the Campos Basin offshore Brazil together with Chevron (Operator) and Petrobras.
According to the recent confirmation with the Operator, Chevron signed on 13 September 2013 an Adjustment of Conduct Agreement (TAC) with Ministerio Público Federal (MPF) to resolve the two public civil actions brought by MPF related to the incidents that occurred in the Frade oil field in 2011 and 2012.
After having identified a small seep in the Frade oil field, Chevron, Petrobras and FJPL voluntarily suspended the production operations in March 2012. FJPL and its partners safely restarted production in the Frade oil field on 30 April 2013 with the approval gained from Agência Nacional de Petróleo (ANP) and Instituto Brasileiro do Meio Ambiente e Recursos Naturais Renovaveis (IBAMA).
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