Subsidiaries and Afﬁliates
As of March 31, 2011

Consolidated Subsidiaries

INPEX Natuna, Ltd.

Issued capital*(Millions of yen)

5,000

Voting rights
held by us (%)

Main business100.00%Exploration, development, produc tion and salesof oil and natural gas in South Natuna Sea Block B,Indonesia

INPEX Sahul, Ltd.

4,600

100.00%Exploration, development, production and sales of oil
and natural gas in JPDA03-12 Block and Bayu-Undan
gas-condensate ﬁeld in the Timor Sea JPDA

INPEX Alpha, Ltd.

8,014

100.00%Exploration, development, production and sales of oiland natural gas in WA-35-L Block and others, Australia

Company name

Issued capital*(Millions of yen)

Voting rights
held by us (%)

2,657

60.92%TEIKOKU OIL (SURINAME) CO., LTD.
Teiseki Pipeline Co., Ltd.

100
86,135INPEX DLNGPL Pty Ltd(Thousands ofAUS dollars)

INPEX BTC Pipeline, Ltd.

(Thousands ofU.S. dollars)

63,800Main business

Exploration of oil in the Northern offshore, Suriname

100.00%Natural gas transportation, pipeline operation,
maintenance and management

100.00%Investment in Darwin LNG Pty Ltd., that constructsand operates the under sea pipeline and LNG plantconnecting Bayu Undan Gas/Condensate Field andDarwin (Australia)

100.00%Investment in pipeline construction and managementbusiness which connects Baku (Azerbaijan), Tbilisi(Georgia) and Ceyhan (Turkey)

INPEX Tengah, Ltd.

1,020

100.00%Exploration, development, production and sales ofoil and natural gas in Tengah Block in Offshore East
Kalimantan, Indonesia

INPEX Browse, Ltd.

67,690100.00%Exploration and development of oil and natural gas in
WA-37-R Block and others, Australia

Teiseki Topping Plant Co., Ltd.

70

100.00%Reﬁning domestic crude oil, storage and shipment ofpetroleum products

INPEX Masela, Ltd.

33,34851.93%

Exploration and development of oil and natural gas inMasela Block in the Arafura Sea, Indonesia

INPEX Trading, Ltd.

50

100.00%

Sales, agency, and brokerage of crude oil and market
research and sales planning in connection with oil andnatural gas sales

INPEX Offshore Northeast Mahakam, Ltd.

3,875

100.00%Exploration of oil and natural gas in East Kalimantan
Block in Offshore East Kalimantan, Indonesia

Teiseki Propane Co., Ltd.
Saitama Gas Co., Ltd.

80

100.00%

Sales of LPG and petroleum products

6062.67%

City gas sales

Teiseki Transport System Co., Ltd.

10100.00%

Transport by motor trucks and sales of petrochemicalproducts

Voting rights
held by us (%)

Main business

INPEX South Makassar, Ltd.

1,097

100.00%Exploration and development of oil and natural gas in
Sebuku Block in the south of the Offshore Mahakam
Block, Indonesia

INPEX Timor Sea, Ltd.

6,712

100.00%Exploration and development of oil and natural gas in
JPDA06-105 Block in the Timor Sea JPDA

INPEX Southwest Caspian Sea, Ltd.

53,59451.00%

Exploration, development, production and sales of oilin ACG Oil Fields, Azerbaijan

INPEX North Caspian Sea, Ltd.

50,58045.00%

Exploration and development of oil in Offshore North
Caspian Sea Block, Kazakhstan

Japan Oil Development Co., Ltd.

18,800100.00%Exploration, development, production and sales of oil
in ADMA Block, United Arab Emirates

INPEX ABK, Ltd.

2,500

100.00%Exploration, development, production and sales of oilin Abu Al Bukhoosh Block, United Arab Emirates

Company name10

100.00%Exploration, development, production and sales of oilin Offshore D. R. Congo Block

MI Berau B.V.

10,72252.70%

Exploration, development, production and sales of oilin the West Bakr Block, Egypt

708

100.00%

4,905

Teikoku Oil (D.R. Congo) Co., Ltd.
The Egyptian Petroleum DevelopmentCo., Ltd.
Teikoku Oil Algeria Co., Ltd.
INPEX Libya, Ltd.
Teikoku Oil Libya UK LTD
Teikoku Oil (Venezuela) Co., Ltd.
Teikoku Oil (North America) Co., Ltd.
INPEX Canada, Ltd.

23 other subsidiaries

Equity-Method Afﬁliates
Issued capital*(Millions of yen)(Thousandsof euros)

44.00%

Exploration, development, production and sales ofnatural gas in Berau Block and Tanggu LNG Project,Indonesia

Angola Japan Oil Co., Ltd.

8,000

19.60%Development and production of oil in Offshore 3/05
Block, Angola

Exploration and development of oil in the eastern
onshore, Algeria

Japan Ohanet Oil & Gas Co., Ltd.

6,400

15.00%Development and production of natural gas in thesoutheastern onshore, Algeria

100.00%Exploration of oil and natural gas in the 42-2&4 and113-3&4 Blocks, Libya

INPEX Offshore North Campos, Ltd.

6,852

37.50%

Financing for oil and natural gas exploration anddevelopment projects in Frade Block in Offshore
North Campos, Brazil

100.00%Exploration of oil in the 81-2 and 82-3 Blocks, Libya

8 other equity-method afﬁliates

100.00%Reac tivation of oil and gas fields, ex plor ation,development, produc tion and sales of oil in theGuarico Oriental area, Venezuela(Thousands ofU.S. dollars)

100.00%Exploration, development, production and sales of oilin the United States

17,160100.00%Exploration and development of oil and natural gas
including oil sands in Canada

656,279

67,055(Thousands ofU.S. dollars)

100
16,593

Subsidiaries of Equity-Method Afﬁliates
Company nameFrade Japão Petróleo Limitada

Issued capital*103,051(Thousandsof reais)Voting rights
held by us (%)

0.00%

Financial /Corporate Information

Company nameMain business

Exploration, development, production and sales ofoil and natural gas in Frade Block in Offshore North
Campos, Brazil

2 other subsidiaries of equity-method afﬁliates* Rounding off fractions less than the unit.

118

INPEX CORPORATION Annual Report 2011

INPEX CORPORATION Annual Report 2011

119