What INPEX Idemitsu Norge does

INPEX Idemitsu Norge AS is a privately-held Norwegian oil and gas exploration and production (E&P) company operating as a wholly-owned subsidiary of INPEX Corporation, Japan's largest E&P company. Founded in 1989 as Idemitsu Petroleum Norge AS and rebranded in January 2022 following INPEX's acquisition of the majority share in its Japanese parent, the company is headquartered in Lysaker outside Oslo and employs approximately 90 professionals. Its operations are concentrated on the Norwegian Continental Shelf, where it holds non-operated partnership interests in 50 production licences, four unit areas, and one CCS licence, with 10 currently producing fields — including core positions in the Tampen area (Snorre, Fram) and Duva. The company's underlying technology stack is conventional upstream E&P: subsea development, reservoir management, and enhanced oil recovery, applied through partnerships with major operators such as Equinor, Aker BP, Vår Energi, Neptune Energy, and ConocoPhillips.

The business model is a non-operated license-partnership model: INPEX Idemitsu Norge acquires working interests through APA licensing rounds, farm-ins, and asset acquisitions, and earns revenue by selling its share of produced crude oil and natural gas at prevailing market prices to oil traders and downstream customers. Daily gross production across its interest portfolio is approximately 27,000 barrels of oil equivalent, with the company's net share dependent on its minority working interests in each license. Beyond conventional E&P, the company has expanded into adjacent energy segments via a 30% stake in the Trudvang CCS Project (December 2024), participation in the Hywind Tampen floating offshore wind farm supplying Snorre and Gullfaks, and the approved Cerisa field development (production start late 2027). Strategic direction is set by INPEX's Vision 2035, which targets a net-zero carbon society by 2050 through cleaner upstream operations and growth in hydrogen, CCS, and renewables.

Recent inorganic activity has been the principal driver of portfolio reshaping: the October 2025 acquisition from Pandion Energy of a 10% interest in the producing Valhall and Hod fields and 20% in the Mistral and Slagugle discoveries, alongside the 2024 Trudvang CCS acquisition and the June 2026 Cerisa approval. Revenue, capex, and production figures are not publicly disclosed, and the entity is unlisted, with no independent fundraising activity. Capital allocation is supported by parent-company financial backing from INPEX Corporation, eliminating standalone financing risk.

Name

INPEX Idemitsu Norge

Legal name

Inpex Idemitsu Norge AS

Website

https://inpex-idemitsu.no

Company type

Private

Founded year

1989

Operating status

Operating

Headcount range

51–100 employees

Short description

INPEX Idemitsu Norge is a Norway-based, non-operated oil and gas exploration and production company and wholly-owned subsidiary of Japan's INPEX Corporation, holding partnership interests in 50 production licences on the Norwegian Continental Shelf with approximately 27,000 boe/day of gross production and adjacent positions in CCS and floating offshore wind.

Ownership category

akta.pro rank

Headquarters

HQ city

Lysaker

HQ country

Norway

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Supply Chain, Personnel, Operations, Marketing or Sales, Technology or R&D, Others

Revenue model

1. Oil and Gas Production: INPEX Idemitsu Norge generates revenue through production and sale of crude oil and natural gas from fields on the Norwegian Continental Shelf. The company holds interests in 10 producing fields with daily production of approximately 27,000 barrels of oil equivalent.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels4 records

Core offering

INPEX Idemitsu Norge is an oil and gas exploration and production (E&P) company operating as a license partner on the Norwegian Continental Shelf. It holds interests in 50 production licences, four unit areas and one CCS licence, with 10 producing fields delivering approximately 27,000 boe per day. The company also participates in emerging projects such as the Hywind Tampen floating offshore wind farm and the Trudvang CCS Project.

Product overview

INPEX Idemitsu Norge (IIN) is an oil and gas exploration and production company operating on the Norwegian Continental Shelf as a subsidiary of INPEX Corporation, Japan's leading energy company. The company operates across four main asset areas: Tampen area, Fram area, Duva/Vega/Peon, and Barents Sea. Core offerings include oil and gas production from 10 producing fields, with approximately 27,000 barrels of oil equivalent daily production. IIN is also expanding into renewable energy through the Hywind Tampen floating offshore wind project and carbon capture and storage (CCS) via the Trudvang CCS Project. The company was established in 1989 as Idemitsu Petroleum Norge and rebranded to INPEX Idemitsu Norge in January 2022 following INPEX acquisition.

Differentiator

Problem solved

Functional benefit

Products and services

• Oil and Gas Exploration and Production Upstream oil and gas exploration and production business on the Norwegian Continental Shelf, including producing fields such as Snorre, Fram, Duva and Knarr, delivered as a non-operating license partner alongside operators including Equinor, Vår Energi, Neptune Energy, Aker BP, OMV and ConocoPhillips.
• Carbon Capture and Storage (CCS) Carbon capture and storage initiative through a 30% non-operated stake in the Trudvang CCS Project, designed for permanent CO2 storage in the Utsira Formation east of the Sleipner field.
• Hywind Tampen Floating Offshore Wind Participation in the Hywind Tampen floating offshore wind project - the world's largest floating offshore wind farm - with 11 turbines totaling 88 MW supplying renewable power to the Snorre and Gullfaks platforms.

Quantifiable outcome

• Daily production of approximately 27,000 barrels of oil equivalent
• +2 more outcomes

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Twelve partnerships are on record, tiered major, core and flagship.

• Pandion EnergymajorStrategic or Co-development Partner · 1 July 2025INPEX Idemitsu acquired a 10% participating interest in Valhall and Hod fields (producing) and 20% in Mistral gas/condensate and Slagugle oil discoveries from Pandion Energy.
• ConocoPhillips SkandinaviacoreStrategic or Co-development Partner · 1 January 2025ConocoPhillips operates PL 891 and PL 891 B containing the Slagugle oil discovery in which INPEX Idemitsu holds 20% interest.
• Aker BPcoreStrategic or Co-development Partner · 1 January 2025Aker BP operates the Valhall and Hod oil fields in the Central North Sea where INPEX Idemitsu holds a 10% participating interest.
• Equinor Energy (as operator)coreStrategic or Co-development Partner · 1 January 2025Equinor operates PL 1119 containing the Mistral gas/condensate discovery where INPEX Idemitsu holds 20% interest. Also operates Valhall/Hod and other licenses.
• Sval EnergicoreStrategic or Co-development Partner · 1 December 2024Sval Energi sold a 30% non-operated stake in the Trudvang CCS Project to INPEX Idemitsu in December 2024. Partnership includes Vår Energi as operator (40%) and Storegga (30%).
• OMV (Norge)coreStrategic or Co-development Partner · 1 January 2024OMV operates PL 1194 in the Vøring Basin where gas discoveries were made. INPEX Idemitsu holds 30% interest in this Norwegian Sea license.
• StoreggacoreStrategic or Co-development Partner · 1 January 2024Storegga holds 30% in the Trudvang CCS Project partnership alongside Vår Energi (operator, 40%) and IIN (30%).
• MUNCH (Munchmuseet)flagshipStrategic or Co-development Partner · 1 January 2023INPEX Idemitsu has been a proud sponsor of MUNCH since 1991, contributing over 100 million NOK. The partnership includes support for the new museum building in Bjørvika, conservation of famous paintings, and exhibition programs. Five-year agreement renewed in 2023.
• EquinorcoreStrategic or Co-development Partner · 1 January 2022Equinor is the operator of several key licenses including Snorre, Fram, and Hywind Tampen. INPEX Idemitsu is a partner in these licenses, participating in exploration, development, and production activities.
• Vår EnergicoreStrategic or Co-development Partner · 1 January 2022Vår Energi is a key partner in multiple licenses including Fram, Snorre, and the Trudvang CCS Project. The company operates the Cerisa development in PL 636.
• Neptune Energy NorgecoreStrategic or Co-development Partner · 1 January 2021Neptune Energy operates the Duva field where production started in August 2021. INPEX Idemitsu holds 30% interest in PL 636 containing Duva.
• PGNiG Upstream NorwaycoreStrategic or Co-development Partner · 1 January 2021PGNiG is a partner in the Duva field (PL 636) with 30% interest. The Duva field is tied back to the Gjøa platform.

Scale indicators6 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Neptune Energy Norge: NCS-focused upstream operator that brought the Duva field online in 2021 where IIN holds 30% interest. Similar NCS partnership model and asset base make this a directly comparable peer in size and operating approach.
• Vår Energi: NCS-focused E&P company (majority owned by Eni) operating fields including Balder and Ringhorne East. IIN partners with Vår Energi across multiple Fram/Snorre licenses and on the Trudvang CCS Project, making it a directly comparable peer with overlapping NCS asset exposure.
• OMV (Norge): Operates PL 1194 in the Vøring Basin where IIN holds 30%. Comparable as an NCS license operator with similar upstream exploration and production activity in the Norwegian Sea and overlapping asset categories.
• Pandion Energy: NCS-focused E&P that recently sold interests in Valhall/Hod and Mistral/Slagugle to IIN. Comparable as a smaller NCS pure-play with a similar non-operating partnership model focused on the same Norwegian Sea / North Sea basins.
• ConocoPhillips Skandinavia: Operates PL 891 / PL 891 B containing the Slagugle oil discovery where IIN holds 20%. Comparable as a major IOC operating NCS licenses with similar upstream exploration, development, and production activity.
• Aker BP: Pure-play Norwegian Continental Shelf oil and gas operator, listed on Oslo Børs. IIN partners with Aker BP as operator of Valhall and Hod, and similar license partnerships across the NCS make this the most directly comparable peer with shared upstream focus.
• PGNiG Upstream Norway: Partner in the Duva field (PL 636) with 30% interest alongside IIN (30%) and Neptune (operator). Comparable as an NCS-focused upstream peer with a similar non-operating partnership role on producing assets.
• Wintershall Dea Norge: Established NCS operator with a comparable exploration and production portfolio, including equity stakes in producing fields on the Norwegian Continental Shelf. Operates in the same basin with overlapping asset categories, although no major public IIN-Wintershall partnership is recorded.

Broad incumbents

• Equinor: Dominant Norwegian state-backed operator on the NCS and the largest operator IIN partners with (Snorre, Fram, Hywind Tampen, Mistral). While massively larger and fully integrated, it shares the same upstream E&P activity on the NCS and is the parent of the regulatory/operating environment IIN operates in.

Others

• INPEX Corporation: Parent company and Japan's largest E&P firm. While not a competitor, INPEX's broader E&P portfolio (Ichthys LNG, Abadi LNG, etc.) provides strategic context for IIN's positioning within a larger global E&P group.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/inpex-idemitsu-norge

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about INPEX Idemitsu Norge