Mitsui E&P Australia (MEPAU)

What Mitsui E&P Australia (MEPAU) does

Mitsui E&P Australia (MEPAU) is the Perth-based Australian arm of Japanese conglomerate Mitsui & Co. Ltd., operating onshore oil and gas exploration, development and production assets in the northern Perth Basin of Western Australia's Mid West region. MEPAU is the operator of the Waitsia Gas Field — described as the largest discovered conventional gas field in the onshore Perth Basin — producing from conventional free-flowing reservoirs without hydraulic fracture stimulation. Its asset base includes the Xyris Production Facility and the newly commissioned Waitsia Gas Plant (Stage 2, up to 250 TJ/day), alongside joint venture interests in Beharra Springs, Kipper, Vincent/Greater Enfield and Meridian. Supporting service lines cover exploration, gas marketing and decommissioning (well plug and abandonment campaigns since 2014).

The company's revenue model rests on natural gas production and sales under multi-year commercial contracts (notably a 4.5-year agreement with Alinta Gas for 20 TJ/day) delivered through the Dampier to Bunbury Natural Gas Pipeline and Parmelia Gas Pipeline to Western Australian homes, businesses and industrial users, plus government-approved LNG export via the North West Shelf Joint Venture facilities until 2028. Since 2021, MEPAU has diversified into low-carbon revenue streams via the Carbon Solutions business — built around the Outback Carbon acquisition — offering carbon farming projects with landowners and developing the Cygnus CCS Hub and Mid West Modern Energy Hub with $20M federal and $11M state support, alongside JOGMEC. Marketing and stakeholder engagement emphasise community investment, APPEA industry participation, and Yamatji traditional owner relationships in the Mid West.

Long-term operational staffing is modest (~12–15 on-site operations plus 20–30 Perth-based support), with construction-phase workforce peaking at ~200 during the Waitsia Stage 2 build. The business is privately held and wholly-owned by Mitsui & Co. Ltd., serving as Mitsui's regional E&P headquarters for Australia and New Zealand. Pricing on individual contracts is not publicly disclosed; customer mix is concentrated among a small number of enterprise gas buyers and infrastructure counterparties, while go-to-market relies on direct enterprise sales and pipeline offtake rather than consumer-facing distribution.

Name

Mitsui E&P Australia (MEPAU)

Legal name

Mitsui E&P Australia Holdings Pty Ltd

Website

https://mepau.com.au

Company type

Private

Founded year

2004

Operating status

Operating

Short description

Mitsui E&P Australia (MEPAU) is a Perth-based, Mitsui-owned upstream operator producing onshore natural gas from the Waitsia Gas Field in Western Australia's Mid West, supplying the WA domestic market and LNG exports while developing carbon capture and farming services.

Ownership category

akta.pro rank

Headquarters

HQ city

Perth

HQ country

Australia

HQ region

Oceania

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Infrastructure, Supply Chain, Personnel, Technology or R&D

Revenue model

1. Natural Gas Production and Sales: MEPAU generates primary revenue from exploring, developing, and producing natural gas from the Perth Basin. Gas production began in 2016 (Waitsia Stage 1 Extended Production Test) producing ~10 TJ/day, expanded to 20-30 TJ/day after Stage 1 Expansion (2020), and Waitsia Stage 2 (expected 2H 2023) will produce up to 250 TJ/day. Gas is sold under commercial contracts (e.g., 4.5-year contract with Alinta Gas) primarily to the WA domestic market via the Dampier to Bunbury Natural Gas Pipeline.
2. LNG Export: Waitsia Stage 2 has received government approval to export LNG until 2028 through the North West Shelf facilities, providing international revenue diversification.
3. Carbon Solutions and Carbon Farming: MEPAU launched a Carbon Solutions business in 2021 through acquisition of Outback Carbon, developing carbon farming projects with landowners. Revenue derived from carbon credit generation and sale, and fees for developing carbon projects on behalf of landowners.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels6 records

Core offering

Mitsui E&P Australia (MEPAU) explores, develops, and produces natural gas — primarily from the Waitsia Gas Field in the onshore Perth Basin of Western Australia — and delivers it to the WA domestic market and (under approved LNG export arrangements) to international buyers via pipeline and LNG infrastructure. The company also develops carbon solutions including the Cygnus Carbon Capture and Storage (CCS) Hub and carbon farming projects, alongside conventional oil and gas joint ventures (Beharra Springs, Kipper, Vincent/Greater Enfield, Meridian) and decommissioning services.

Product overview

MEPAU operates as an oil and gas exploration and production company with a portfolio of producing assets and development projects. The core offering centers on the Waitsia Gas Project, supported by the Xyris Production Facility, producing gas for the Western Australian domestic market. The company is transitioning toward a low-carbon future through Carbon Solutions offerings including Carbon Capture and Storage (Cygnus CCS Hub), Carbon Farming projects, and exploration of ammonia as a fuel. Additional products include joint venture interests in Beharra Springs, Kipper, Vincent/Greater Enfield, and Meridian gas projects. Supporting services encompass exploration, gas marketing, and decommissioning of legacy wells. An internal cloud-based procurement system (Coupa) manages supplier relationships.

Differentiator

Problem solved

Functional benefit

Products and services

• Waitsia Gas Project Major onshore conventional gas field development project in the Mid West of Western Australia, operated by MEPAU on behalf of the Waitsia joint venture with Beach Energy. Stage 2 features a gas plant with up to 250 TJ/day production capacity, supplying the WA domestic market via the Dampier to Bunbury Natural Gas Pipeline and supporting approved LNG export through the North West Shelf facilities.
• Carbon Capture and Storage (Cygnus CCS Hub)

Quantifiable outcome

• 250 TJ/day gas production capacity from Waitsia Stage 2
• +3 more outcomes

Named customers3 records

Segments3 records

Ideal customer profiles3 records

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Ten partnerships are on record, tiered core and minor.

• Japan Organization for Metals and Energy Security (JOGMEC)coreStrategic or Co-development Partner · 1 April 2022JOGMEC is part of the collaboration for the Mid West Modern Energy Hub, providing an industry-leading Carbon Capture and Storage solution for emissions intensive activities. MEPAU is working with JOGMEC as part of the CCS development program.
• CloughcoreImplementation/ SI/ Consulting Partner · 1 October 2021Clough was awarded the Engineering, Procurement and Construction (EPC) contract for Waitsia Stage 2 Gas Plant development. Clough is a pioneering engineering and construction company established in Perth in 1919. The project involves building a 250 TJ/day gas plant and temporary construction village.
• Garla Barna (Gnarla Barna) Civil & MiningminorChannel Partner/ Reseller/ Distributor · 1 June 2021Local indigenous-owned company awarded the bulk earthworks contract for Waitsia Stage 2 construction. Garla Barna undertook bulk earthworks for the Temporary Construction Village and Waitsia Gas Plant site preparation.
• C.D. DoddminorImplementation/ SI/ Consulting Partner · 1 June 2021Specialist scrap metal recycling company engaged by MEPAU for deconstruction activities at five redundant processing plants across the Perth Basin. C.D. Dodd worked collaboratively with MEPAU and Dongara Men in Sheds for equipment removal and metal recycling.
• Outback CarboncoreStrategic or Co-development Partner · 1 May 2021MEPAU acquired the carbon project developer and service provider businesses of Outback Carbon in May 2021. Outback Carbon founders Harley Lacy, Kent Broad, and Kelly Pang joined MEPAU. Their expertise in carbon farming project development combined with MEPAU's investment capabilities enables development of carbon farming projects with landowners.
• Beach EnergycoreStrategic or Co-development Partner · 1 December 2020Beach Energy is MEPAU's joint venture partner in the Waitsia Gas Project. MEPAU operates the project on behalf of the joint venture. Both companies co-invest in exploration, development, and production activities across multiple permits in the Perth Basin. They also jointly fund community investment programs including Waitsia Mid West Community Grants.
• North West Shelf Joint Venture (NWS)coreStrategic or Co-development Partner · 1 December 2020Final investment decision on Waitsia Stage 2 was contingent on finalising and signing key commercial agreements with the North West Shelf Joint Venture. The NWS arrangement enables LNG export from Waitsia Stage 2 through NWS facilities until 2028.
• AGIG (Australian Gas Infrastructure Group)coreStrategic or Co-development Partner · 1 December 2020Commercial agreement signed with AGIG as part of the Waitsia Stage 2 final investment decision. AGIG provides pipeline infrastructure for gas delivery.
• Alinta GascoreStrategic or Co-development Partner · 1 December 20194.5-year gas supply contract with Alinta Gas for delivery of 20 TJ/day of natural gas to Perth metropolitan customers via the Dampier to Bunbury Natural Gas Pipeline. MEPAU planned to deliver first gas to Alinta during 2020.
• EnscopeminorImplementation/ SI/ Consulting Partner · 1 December 2019Enscope was the lead contractor for the Waitsia Stage 1 Expansion project, responsible for detailed engineering, procurement, and construction management. Approximately 40-50 site personnel were engaged, with Enscope renting three houses in Dongara for the project duration.

Scale indicators8 records

Recent moves10 records

Expansion highlights6 records

Broad incumbents

• Santos: Santos is one of Australia's largest gas producers, with significant WA and Cooper Basin operations and the Moomba CCS project. It is a broad incumbent comparable to MEPAU on Australian gas production and emerging CCS, but at a much larger scale and broader portfolio.
• Woodside Energy: Woodside operates the North West Shelf LNG facilities that MEPAU uses for export, and is a major Australian LNG and gas producer. It is a broad incumbent comparable on gas production, LNG export, and Australian energy infrastructure, but at significantly greater scale.
• Shell Australia: Shell operates QGC and is a North West Shelf Joint Venture partner with significant Australian gas and CCS interests (including the Crux CCS assessment). It is a broad incumbent comparable on Australian LNG and emerging carbon storage strategy.
• Chevron Australia: Chevron is a North West Shelf Joint Venture partner and operator of the Gorgon and Wheatstone LNG projects, including the Gorgon CCS facility. It is a broad incumbent comparable to MEPAU on Australian LNG operations and large-scale CCS deployment, though at a vastly larger scale.
• INPEX: INPEX operates the Ichthys LNG project in Australia and is a North West Shelf Joint Venture participant with a similar Japanese strategic perspective to Mitsui. It is a broad incumbent comparable on Australian LNG and Japanese-linked energy investment.
• Origin Energy: Origin is a major Australian integrated energy company with upstream gas production, power generation, and retail. It is a broad incumbent comparable to MEPAU on Australian gas production and energy transition strategy, but across a much larger and more diversified portfolio.

Direct peers

• Beach Energy: Beach Energy is MEPAU's joint venture partner in the Waitsia Gas Project and operates multiple adjacent onshore Perth Basin permits. It is the most directly comparable operator in the same basin with similar conventional gas development profile.
• Strike Energy: Strike Energy is an ASX-listed Perth Basin gas developer focused on conventional and unconventional gas, including West Erregulla. It is comparable to MEPAU as a smaller WA-focused gas producer operating in the same basin with similar customer profile.
• Talon Energy: Talon Energy holds exploration acreage in the Perth Basin and is pursuing conventional gas development. As a smaller Perth Basin operator, it is comparable to MEPAU in terms of asset focus and stage of development.

Others

• AGL Energy: AGL is a major Australian electricity and gas retailer with significant industrial and residential gas demand. It is an adjacent comparable to MEPAU as a counterparty-type participant in the WA gas market and a potential downstream customer for decarbonisation services.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/people/Mitsui-EP/61571617045366
• LinkedInlinkedin.com/company/mitsui-e-p-australia-pty-ltd

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Subsidiaries1 record

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 Mitsui E&P Australia (MEPAU)