Consolidated Financial Results for the Nine Months ended September 30, 2020 [Japanese GAAP]
November 6, 2020
Note: The following report is an English translation of the Japanese-language original.
Company name
Code number
Representative
Contact person: INPEX CORPORATION
Stock Exchange on which the Company is listed : Tokyo Stock Exchange: 1605
URL https://www.inpex.co.jp: Takayuki Ueda, President: Munehiro Hosono, General Manager, Corporate Communications Unit
TEL+81-3-5572-0233
Scheduled date of filing Quarterly Financial Report: November 9, 2020
Scheduled date of payment of cash dividends:－
Preparation of supplementary explanatory materials: Yes
Meeting of quarterly financial results presentation: None(Amounts less than one million yen are rounded off)
1. Consolidated Financial Results for the Nine Months ended September 30, 2020 (January 1, 2020-September 30, 2020)(1) Consolidated operating results(Figures in % represent the changes from the corresponding period of the previous fiscal year)

Net sales
For the nine months ended
September 30, 2020

Operating income

Millions of Yen

September 30, 2019

Net income attributableto owners of parent

Ordinary income%

Millions of Yen%

Millions of Yen%

Millions of Yen%

592,798－

191,298－

199,000－(125,427)

－

－

－

－

－

－

－

－

－

(Note): Consolidated comprehensive income: for the nine months ended September 30, 2020, ¥(235,531) million; (－%)
for the nine months ended September 30, 2019, ¥－ million; (－%)

Net income pershare—basic
For the nine months ended
September 30, 2020

Net income pershare—diluted

Yen(85.90)Yen－

September 30, 2019－－
(Note): The Company changed its consolidated fiscal year-end from March 31 to December 31, effective from the previous fiscal
year. As a result, comparative data with the nine months ended December 31, 2019 has not been provided because consolidated
financial statements for the nine months ended December 31, 2019 have not been prepared.
[Reference]
Percentage figures below (adjusted % increase/decrease) represent year-on-year changes between the nine-month period fromJanuary 1, 2020 to September 30, 2020 and the corresponding period of the previous year, the nine-month period from January
1, 2019 to September 30, 2019.
Net Sales
592,798 (29.8)%

Operating income
191,298(52.1)%

Ordinary income
199,000 (50.9)%(Millions of yen)
Net income attributable to owners of parent(125,427)－%(2) Consolidated financial position

Millions of Yen

Millions of Yen

Net assets excluding non-controllinginterests as a percentage of total assets%

As of September 30, 2020

4,634,230

3,018,776

59.5

As of December 31, 2019

4,849,995

3,297,176

62.7

Total assets

Net assets(Reference): Net assets excluding non-controlling interests: as of September 30, 2020, ¥2,759,504 million
as of December 31, 2019, ¥3,040,775 million

2. Dividends
Cash dividends per share
At 1st quarter end At 2nd quarter end At 3rd quarter end
For the year ended
December 31, 2019
For the year ending
December 31, 2020
For the year ending
December 31, 2020 (forecast)At fiscal year end

Total

Yen

Yen

Yen

Yen

Yen

－

12.00

－

18.00

30.00

－

12.00

－
12.00

24.00

(Note): 1. Changes in projected dividends for the year ending December 31, 2020 from the previous forecast: None
2. "Dividends" as stated above refer to common stock. For information regarding Class A stock (not listed), please refer to Exhibit "Dividends of ClassA stock".

3. Forecasted Consolidated Financial Results for the year ending December 31, 2020 (January 1, 2020-December 31, 2020)(Figures in % represent the changes from the corresponding period of the previous fiscal year)

Net sales
For the year ending
December 31, 2020

Operating income

Ordinary income

Net income
attributable toowners of parent

Millions of Yen%

Millions of Yen%

Millions of Yen%

Millions of Yen

754,000－

228,000－

219,000－(136,000)%－

Net income per
share
Yen

(93.14)(Note): Changes in forecasted consolidated financial results for the year ending December 31, 2020 from the previous forecast: Yes
Due to the change in the Company’s fiscal year-end from March 31 to December 31, the consolidated accounting period of the Company and its
subsidiaries with provisional settlements of accounts for the fiscal year ended December 31, 2019 is the nine-month period between April 1 andDecember 31, 2019. Meanwhile, the accounting period (for the same fiscal year) of subsidiaries with a December 31 fiscal year-end is the normal,
twelve-month period between January 1 and December 31, 2019. Therefore, percentage changes from the previous fiscal year are not provided.
[Reference]
Percentage figures below for the year ending December 31, 2020 (after adjustment) represent the year-on-year percentage changes between thefinancial results of the Company, its subsidiaries with provisional settlements of accounts and its subsidiaries with a December 31 fiscal year-end forthe period between January 1 and December 31, 2019 and the forecasted consolidated financial results (of these entities) for the period between
January 1 and December 31, 2020.
(Millions of yen)
Net Sales
Operating income
Ordinary income
Net income attributable to owners of parent
754,000 (35.6)%
228,000(59.2)%
219,000 (62.5)%(136,000)－%

Notes(1) Significant changes in scope of consolidation: None(Changes in the specified subsidiaries during the period due to change in scope of consolidation)(2) Adoption of accounting treatments which are exceptional for quarterly consolidated financial statements: None(3) Changes in accounting policies, accounting estimates and restatement of corrections
1. Changes in accounting policies resulting from the revision of the accounting standards and other regulations
2. Other changes in accounting policies
3. Changes in accounting estimates
4. Restatement of corrections: None: None: None: None(4) Number of shares issued (Common stock)
1. Number of shares issued at the end of the period(including treasury stock):
2. Number of treasury stock at the end of the period:
3. Average number of shares:

1,462,323,600 shares as of September 30, 2020
1,462,323,600 shares as of December 31, 2019
2,119,069 shares as of September 30, 2020
2,121,916 shares as of December 31, 2019
1,460,203,487 shares for the nine months ended September 30, 2020
－ shares for the nine months ended September 30, 2019

(Note): 1. The shares held by "the Board Incentive Plan Trust" are included in number of treasury stock at end of period.
(As of September 30, 2020: 152,569 shares As of December 31, 2019: 155,416 shares)
2. The Company changed its consolidated fiscal year-end from March 31 to December 31, effective from the previous fiscal year. As a result, data forthe average number of shares over the period for the nine months ended December 31, 2019 has not been provided because consolidated financial
statements for the nine months ended December 31, 2019 have not been prepared.

*This quarterly earnings report is not subject to audit by certified public accountants or audit firms.
*Explanation regarding the appropriate use of estimated consolidated financial results
The aforementioned forecasts are based on the currently available information and contain many uncertainties. The final results
might be significantly different from the aforementioned forecasts due to changes in business conditions including oil and natural gas
price levels, production and sales plans, project development schedules, government regulations and financial and tax schemes.
Please refer to "1.(3) Explanation regarding future forecast information such as Forecasts for Consolidated Financial Results" on page
4.
Exhibit:
Dividends of Class A stock
Cash dividends per share
At 1st quarter end At 2nd quarter end At 3rd quarter end
Yen

Yen

Yen

At fiscal year end
Yen

Total
Yen

For the year ended―
4,800.00―
7,200.00
12,000.00
December 31, 2019
For the year ending―
4,800.00―
December 31, 2020
For the year ending
December 31, 2020
4,800.00
9,600.00(forecast)(Note) 1. The Company conducted a stock split at a ratio of 1:400 of common stock effective October 1, 2013. However, for ClassA stock (not listed), no stock split was implemented. The article specifying that dividends of Class A stock are equivalent
to dividends of common stock prior to the stock split is included in the Articles of Incorporation.

Index of the Attachments
1. Qualitative Information / Financial Statements …………………………………………………………………………………

2(1) Explanation on Consolidated Financial Results ………………………………………………………………………………

2(2) Explanation on Consolidated Financial Position ……………………………………………………………………………

3(3) Explanation regarding future forecast information such as Forecasts for Consolidated Financial Results …………………

4

2. Consolidated Financial Statements and Principal Notes ………………………………………………………………………

5(1) Consolidated Balance Sheet …………………………………………………………………………………………………

5(2) Consolidated Statement of Income and Consolidated Statement of Comprehensive Income ………………………………

7

Consolidated Statement of Income …………………………………………………………………………………………

7

Consolidated Statement of Comprehensive Income …..……………………………………………………………………

8(3) Notes to Consolidated Financial Statements …………………………………………………………………………………

9(Conditions or events that indicate there could be substantial doubt about
the Company's ability to continue as a going concern) ………………………………………………………………………

9(Note on significant changes in shareholders' equity) ………………………………………………………………………

9(Segment information) ……………………………………………………………………………………………………… 10(Subsequent events) …………………………………………………………………………………………………………

10

3. Supplementary Information ……………………………………………………………………………………………………… 11(1) Production, Orders Received and Sales Performance………………………………………………………………………… 11

1

1. Qualitative Information ⁄ Financial Statements(1) Explanation on Consolidated Financial Results
The Company and its subsidiaries unified their fiscal year-ends to December 31, effective from the previous fiscal year.
Changes displayed hereinafter are based on the comparison to the corresponding period of the previous year, which is comprisedof the nine-month results (January 1 - September 30, 2019).
(Millions of yen)
For the nine
Corresponding
months ended
Period of the
Change% Change
September 30,
Previous Year2020
Net sales

844,635

592,798(251,836)(29.8)

Operating income

399,434

191,298(208,136)(52.1)

Ordinary income

405,060

199,000(206,059)(50.9)Net income (loss)
attributable toowners of parent

121,666(125,427)(247,093)－

Net sales for the nine months ended September 30, 2020 decreased by ¥251.8 billion, or 29.8%, to ¥592.7 billion from thecorresponding period of the previous year due to a decrease in sales price of crude oil, despite an increase in sales volume.
Net sales of crude oil decreased by ¥236.2 billion, or 37.7%, to ¥390.3 billion, and net sales of natural gas decreased by ¥12.5
billion, or 6.1%, to ¥192.0 billion.
Sales volume of crude oil increased by 4,334 thousand barrels, or 4.9%, to 92,214 thousand barrels. Sales volume of natural gas
increased by 36,286 million cf, or 11.8%, to 343,758 million cf. Sales volume of overseas natural gas increased by 39,563 million
cf, or 16.0%, to 287,297 million cf, and sales volume of domestic natural gas decreased by 88 million ㎥, or 5.5%, to 1,513
million ㎥ (56,462 million cf).
The average sales price of overseas crude oil decreased by US$25.83, or 39.7%, to US$39.30 per barrel. In addition, the averagesales price of overseas natural gas decreased by US$0.48, or 11.5%, to US$3.70 per thousand cf. Meanwhile, the average sales
price of domestic natural gas decreased by ¥6.19, or 11.1%, to ¥49.71 per ㎥. The average exchange rate of the Japanese yen
against the U.S. dollar on consolidated net sales appreciated by ¥1.69, or 1.5%, to ¥107.70 per U.S. dollar from the corresponding
period of the previous year.
The decrease of ¥251.8 billion in net sales was mainly derived from the following factors: regarding net sales of crude oil andnatural gas, an increase in sales volume contributing ¥43.6 billion to the increase, a decrease in unit sales price pushing sales downof ¥284.7 billion, the appreciation of the Japanese yen against the U.S. dollar pushing sales down of ¥7.7 billion, and a decrease in
net sales excluding crude oil and natural gas of ¥3.0 billion.
Cost of sales for the nine months ended September 30, 2020 decreased by ¥30.7 billion, or 8.3%, to ¥339.4 billion. Exploration
expenses decreased by ¥13.8 billion, or 70.0%, to ¥5.9 billion. Selling, general and administrative expenses increased by ¥0.9
billion, or 1.7%, to ¥56.1 billion. As a result, operating income decreased by ¥208.1 billion, or 52.1%, to ¥191.2 billion.
Other income increased by ¥6.0 billion, or 17.0%, to ¥41.2 billion due to an increase in equity in earnings of affiliates and others.
Other expenses increased by ¥3.9 billion, or 13.3%, to ¥33.5 billion. As a result, ordinary income decreased by ¥206.0 billion, or
50.9%, to ¥199.0 billion.
Extraordinary loss increased by ¥185.8 billion, as a result of posting impairment loss of ¥191.2 billion due to deteriorating
business environments based on the drop in oil prices, which were caused by the impact of the growing number of COVID-19
cases and others. Total amount of current income taxes and deferred income taxes decreased by ¥155.3 billion, or 54.7%, to¥128.7 billion, and net income attributable to non-controlling interests was ¥4.4 billion. As a result of the above effects, net loss
attributable to owners of parent for the nine months ended September 30, 2020 was ¥125.4 billion compared with ¥121.6 billionof net income attributable to owners of parent for the corresponding period of the previous year.

2

Financial results by segment are as follows:(Millions of yen)
Net sales
Corresponding
Period of thePrevious YearFor the ninemonths
ended
September
30, 2020Japan

107,190

Asia & Oceania

Segment income (loss)% Change

Corresponding
Period of thePrevious YearFor the ninemonths
ended
September
30, 2020% Change

88,376(17.6)

19,631

16,472(16.1)

195,472

166,358(14.9)

92,51639,816(57.0)

Eurasia (Europe & NIS)

72,01552,359(27.3)

16,751

3,169(81.1)

Middle East & Africa

460,076

274,595(40.3)

289,703

144,169(50.2)

9,881

11,10812.4(8,447)(2,008)(76.2)

844,635

592,798(29.8)

410,155

201,619(50.8)

Adjustments

－

－

－

(10,720)(10,321)(3.7)

Consolidated

844,635

592,798(29.8)

399,434

191,298(52.1)

Segment

Americas
Total1) JapanNet sales decreased by ¥18.8 billion, or 17.6%, to ¥88.3 billion due to a decrease in sales price of natural gas. Operating income
decreased by ¥3.1 billion, or 16.1%, to ¥16.4 billion.
2) Asia & Oceania
Net sales decreased by ¥29.1 billion, or 14.9%, to ¥166.3 billion due to a decrease in sales price of crude oil. Operating income
decreased by ¥52.6 billion, or 57.0%, to ¥39.8 billion.
3) Eurasia (Europe & NIS)
Net sales decreased by ¥19.6 billion, or 27.3%, to ¥52.3 billion due to a decrease in sales price of crude oil. Operating income
decreased by ¥13.5 billion, or 81.1%, to ¥3.1 billion.
4) Middle East & Africa
Net sales decreased by ¥185.4 billion, or 40.3%, to ¥274.5 billion due to a decrease in sales price of crude oil. Operating income
decreased by ¥145.5 billion, or 50.2%, to ¥144.1 billion.
5) Americas
Net sales increased by ¥1.2 billion, or 12.4%, to ¥11.1 billion due to an increase in sales volume of crude oil. Operating loss
decreased by ¥6.4 billion, or 76.2%, to ¥2.0 billion.
(2) Explanation on Consolidated Financial Position
Total assets as of September 30, 2020 decreased by ¥215.7 billion to ¥4,634.2 billion from ¥4,849.9 billion as of December 31,
2019. Current assets decreased by ¥48.8 billion to ¥370.9 billion due to decreases in accounts receivable-trade and others. Fixed
assets decreased by ¥166.8 billion to ¥4,263.2 billion due to decreases in tangible fixed assets, intangible fixed assets and others.
Meanwhile, total liabilities increased by ¥62.6 billion to ¥1,615.4 billion from ¥1,552.8 billion as of December 31, 2019. Current
liabilities decreased by ¥20.5 billion to ¥380.9 billion and long-term liabilities increased by ¥83.2 billion to ¥1,234.5 billion.
Net assets decreased by ¥278.3 billion to ¥3,018.7 billion. Total shareholders' equity decreased by ¥169.2 billion to¥2,553.5 billion. Total accumulated other comprehensive income decreased by ¥112.0 billion to ¥205.9 billion and noncontrolling interests in net assets increased by ¥2.8 billion to ¥259.2 billion.

3(3) Explanation regarding future forecast information such as Forecasts for Consolidated Financial Results
Forecasts for consolidated financial results for the year ending December 31, 2020 have been revised from the previous forecasts
announced on August 6, 2020, taking into consideration factors such as the consolidated financial results for the nine months
ended September 30, 2020.
Forecasts for consolidated financial results for the year ending December 31, 2020

Previous Forecasts: A

730,000

203,000

200,000(Millions of yen)
Net income (loss)
attributable to owners ofparent(136,000)

Revised Forecasts: B

754,000

228,000

219,000(136,000)

Increase (Decrease): B‐A

24,00025,00019,000

－

3.3

12.3

9.5

－

Net sales

Percentage change (%)

Operating income

Ordinary income

The above forecasts are calculated based on the following assumptions:
Previous Forecasts

Revised Forecasts

Crude oil price(Brent)

1st half (actual):
2nd half:
Full Year average:

US$ 42.1/bbl
US$ 40.0/bbl
US$ 41.1/bbl

1st half (actual):
2nd half:
Full Year average:

US$ 42.1/bbl
US$ 41.7/bbl
US$ 41.9/bbl

Exchange rate

1st half (actual):
2nd half:
Full Year average:¥108.3/US$¥105.0/US$¥106.6/US$

1st half (actual):
2nd half:
Full Year average:¥108.3/US$¥105.6/US$¥106.9/US$

Note:Crude oil prices at which the Company sells products vary depending on crude oil type and differ from Brent crude oil prices. Crude oil price differences
are determined by the quality of each crude oil type, etc., and fluctuate depending on market conditions.

42. Consolidated Financial Statements and Principal Notes(1) Consolidated Balance Sheet(Millions of yen)Accounts

As of December 31, 2019

As of September 30, 2020

(Assets)
Current assets
Cash and deposits

173,798

162,721

Accounts receivable-trade148,765

84,760Inventories

38,987

37,154

Other

72,02098,861Less allowance for doubtful accounts(13,768)(12,566)

Total current assets

419,802370,932

Buildings and structures, net

177,320

170,261

Wells, net

261,931

256,166

1,254,865

1,241,569

Land

18,596

18,608Construction in progress

552,866

360,858

9,790

26,5872,275,372

2,074,051

Goodwill

42,206

37,135

Other493,124

408,008

Total intangible assets

535,330

445,143

Investment securities

378,527

298,304

Long-term loans receivable

718,976

918,573

Recoverable accounts under production sharing

568,377

578,336

Other

23,71821,664

Less allowance for doubtful accounts

Fixed assets
Tangible fixed assets

Machinery, equipment and vehicles, net

Other, net
Total tangible fixed assets
Intangible assets

Investments and other assets

(818)

(591)

Less allowance for recoverable accounts under
production sharing(66,897)(69,762)

Less allowance for investments in exploration(2,395)(2,423)

1,619,489

1,744,102

4,430,192

4,263,297

4,849,995

4,634,230

Total investments and other assets
Total fixed assets
Total assets

5

(Millions of yen)Accounts

As of December 31, 2019

As of September 30, 2020

(Liabilities)
Current liabilities
Accounts payable-trade

21,79820,298

Short-term loans

166,831214,219

Income taxes payable

43,19014,918

Accrued bonuses

1,334

－

Accrued bonuses to officers

108

81

Provision for loss on business

8,635

8,972

Provision for exploration projects

11,808

8,161

780

527

Other

146,996

113,727

Total current liabilities

401,483

380,906

950,948

1,035,402

Provision for stocks payment

4263

Accrued special repair and maintenance

537

540

Liability for retirement benefits

8,011

8,004

Asset retirement obligations

136,101

140,282

Other

55,69450,254

1,151,334

1,234,546

1,552,818

1,615,453

Common stock

290,809290,809

Capital surplus

674,374

674,374Retained earnings

1,763,034

1,593,796

Treasury stock(5,432)(5,428)2,722,786

2,553,552

5,570

(792)

Unrealized gain (loss) from hedging instruments(18,128)(60,095)

Translation adjustments

330,546

266,840

Total accumulated other comprehensive income

317,988

205,952

256,400

259,272

Total net assets

3,297,176

3,018,776

Total liabilities and net assets

4,849,995

4,634,230

Asset retirement obligations

Long-term liabilities
Long-term debt

Total long-term liabilities
Total liabilities(Net assets)
Shareholders' equity

Total shareholders' equity
Accumulated other comprehensive income
Unrealized holding gain (loss) on securities

Non-controlling interests6(2) Consolidated Statement of Income and Consolidated Statement of Comprehensive Income
Consolidated Statement of Income(Millions of yen)
For the nine months ended
Accounts
September 30, 2020
Net sales

592,798

Cost of sales

339,437

Gross profit

253,360

Exploration expenses

5,945

Selling, general and administrative expenses

56,117

Operating income

191,298

Other income
Interest income

974

Dividend income

6,119

Equity in earnings of affiliates

28,158

Other

6,013

Total other income

41,265

Other expenses
Interest expense

15,621

Provision for allowance for recoverable accounts under
production sharing

2,886

Foreign exchange loss

7,307

Other

7,748

Total other expenses

33,563

Ordinary income

199,000

Extraordinary loss
Impairment loss

191,297

Total extraordinary loss

191,297

Income before income taxes

7,703

Income taxes-current

145,698

Income taxes-deferred(16,984)

Total income taxes

128,713

Net loss(121,010)

Net income attributable to non-controlling interests

4,417

Net loss attributable to owners of parent(125,427)7

Consolidated Statement of Comprehensive Income
Accounts(Millions of yen)
For the nine months ended
September 30, 2020

Net loss(121,010)

Other comprehensive income
Unrealized holding gain (loss) on securities(6,368)

Unrealized gain (loss) from hedging instruments

353

Translation adjustments(63,920)

Share of other comprehensive income of associates
accounted for by the equity method(44,584)

Total other comprehensive income(114,521)

Comprehensive income(235,531)

Total comprehensive income attributable to
Owners of parent(237,463)

Non-controlling interests

1,932

8

(3) Notes to Consolidated Financial Statements(Conditions or events that indicate there could be substantial doubt about the Company's ability to continue as a going concern)
For the nine months ended September 30, 2020 (January 1, 2020 through September 30, 2020):
None(Note on significant changes in shareholders' equity)
For the nine months ended September 30, 2020 (January 1, 2020 through September 30, 2020):
None

9

(Segment information)
I. For the nine months ended September 30, 2020 (January 1, 2020 through September 30, 2020)
1. Information on sales and income (loss) by reportable segment(Millions of yen)
Reportable segments
Adjustments Consolidated
*1
*2

Japan

Asia &
Oceania

Eurasia(Europe& NIS)

88,376

166,358

52,359274,595

11,108592,798―

592,798

―

4,451

―

―

―

4,451

(4,451)―

88,376

170,81052,359274,595

11,108597,250(4,451)

592,798

16,47239,816

3,169

144,169(2,008)201,619(10,321)

191,298

Middle East
Americas& Africa

Total

Net sales
Sales to third parties
Intercompany sales andtransfers between segments
Total
Segment income (loss)

Note: 1. Adjustments of segment income of ¥(10,321) million are corporate expenses. Corporate expenses are mainly amortization of goodwill and generaladministrative expenses that are not allocated to a reportable segment.
2. Segment income is reconciled with operating income on the consolidated statement of income.

2. Information on impairment loss from fixed assets, goodwill and other items by reportable segment
Impairment loss due to deteriorating business environments based on the drop in oil prices are as follows.
"Asia & Oceania" segment - the Prelude FLNG Project:¥130,029 million, Bayu-Undan Gas-Condensate Field:¥8,948 million"Americas" segment - U.S. shale oil project:¥33,484 million, Lucius Oil Field:¥18,833 million(Subsequent events)
For the nine months ended September 30, 2020 (January 1, 2020 through September 30, 2020):
None

10

3. Supplementary Information(1) Production, Orders Received and Sales Performance1) Actual production
The following table shows actual production by segment:
Corresponding period of theSegment
Category
previous year *8
0.9 MMbbls
Crude oil
(3.3 Mbbls per day)
34.0 Bcf
Natural gas(124.5 MMcf per day)
7.3 MMboe
Japan
Subtotal(26.7 Mboe per day)
Iodine412.2 tons

416.2 tons

169.4 million kWh

136.1 million kWh12.1 MMbbls(44.3 Mbbls per day)
254.4 Bcf
(931.9 MMcf per day)
60.8 MMboe(222.7 Mboe per day)11.6 MMbbls(42.3 Mbbls per day)
289.3 Bcf
(1,055.7 MMcf per day)
67.2 MMboe(245.3 Mboe per day)245.0 million kWh277.1 million kWh12.7 MMbbls(46.5 Mbbls per day)
6.6 Bcf(24.1 MMcf per day)13.9 MMboe(50.8 Mboe per day)14.4 MMbbls(52.5 Mbbls per day)
6.8 Bcf(25.0 MMcf per day)15.6 MMboe(56.9 Mboe per day)60.2 Mtons

59.6 Mtons

64.5 MMbbls(236.1 Mbbls per day)
2.4 MMbbls(8.7 Mbbls per day)19.4 Bcf(71.2 MMcf per day)
6.0 MMboe(21.9 Mboe per day)
92.5 MMbbls(339.0 Mbbls per day)
314.4 Bcf
(1,151.6 MMcf per day)
152.4 MMboe(558.3 Mboe per day)

64.9 MMbbls(236.9 Mbbls per day)
2.3 MMbbls(8.4 Mbbls per day)14.6 Bcf(53.3 MMcf per day)
5.0 MMboe(18.3 Mboe per day)
94.0 MMbbls(343.1 Mbbls per day)
341.6 Bcf
(1,246.8 MMcf per day)
159.4 MMboe(581.7 Mboe per day)

412.2 tons

416.2 tons

414.5 million kWh413.2 million kWh60.2 Mtons

59.6 Mtons

Electric power
generation
Crude oil
Natural gas
Asia & Oceania
Subtotal
Electric power
generation
Crude oil
Eurasia(Europe & NIS)

Natural gas
Subtotal
SulfurMiddle East & Africa

Crude oil
Crude oil

AmericasNatural gas
Subtotal
Crude oil
Natural gas

Total

Subtotal

For the nine months ended
September 30, 2020
0.8 MMbbls(3.1 Mbbls per day)30.9 Bcf(112.8 MMcf per day)
6.6 MMboe(24.2 Mboe per day)

IodineElectric power
generation
SulfurNote: 1. The volume of LPG produced overseas is included in 'Crude oil.'
2. A portion of crude oil and natural gas production volume is consumed as fuel to generate electricity.
3. The production by the Company's affiliates accounted for by the equity method is included in the figures above.
Also the production volume is a result for the nine months ended September 30 regardless of a closing date of fiscal periods of its subsidiaries oraffiliates.
4. The production volume of crude oil and natural gas under the production sharing contracts entered into by INPEX Group corresponds to the net
economic take of the group.
Figures calculated by multiplying the gross production volume by the Company's interest share are 103.0 MMbbls (377.4 Mbbls per day) of crude oil,
328.6 Bcf (1,203.8 MMcf per day) of natural gas, and in total 166.1 MMboe (608.5 Mboe per day) for the nine months ended September 30, 2019, and102.1 MMbbls (372.5 Mbbls per day) of crude oil, 350.5 Bcf (1,279.3 MMcf per day) of natural gas, and in total 169.1 MMboe (617.0 Mboe per day)for the nine months ended September 30, 2020.
5. Boe means barrels of oil equivalent.
6. Iodine is refined by other company on consignment.
7. Figures are rounded to the first decimal place.
8. The corresponding period for the third quarter of the fiscal year ending December 31, 2020 from January 1, 2020 to September 30,
2020 is the nine-month period of the previous year from January 1, 2019 to September 30, 2019.

112) Orders received
Disclosure on this information is omitted because the amount of orders received is accounted for a minor portion of total sales.
3) Actual sales
The following table shows sales by segment:

Segment

Japan

Asia & Oceania

Category
Crude oil

576 Mbbls

4,150

474 Mbbls

2,339

Natural gas(excluding LPG)

59,739 MMcf

89,48056,462 MMcf

75,2102 Mbbls

12

1 Mbbls

8

LPG
Other

13,546

10,818Subtotal

107,190

88,376

Crude oil

11,833 Mbbls

83,687

11,415 Mbbls

52,613Natural gas(excluding LPG)

222,337 MMcf

109,653

266,232 MMcf

111,629247 Mbbls

2,130

208 Mbbls

2,116

LPG
Subtotal

Eurasia(Europe & NIS)

Middle East & Africa

Americas195,472

166,358

Crude oil

10,211 Mbbls

70,69913,553 Mbbls

51,407Natural gas(excluding LPG)

6,703 MMcf

1,391

6,744 MMcf

1,336

Other

(75)

(384)

Subtotal

72,01552,359Crude oil

63,947 Mbbls

460,076

64,037 Mbbls

274,595

Crude oil

1,314 Mbbls

7,982

2,735 Mbbls

9,358

Natural gas(excluding LPG)

18,694 MMcf

1,898

14,321 MMcf

1,749

Subtotal

Total(Millions of yen)
For the nine months ended
September 30, 2020
Sales volume
Net sales

Corresponding period of theprevious year *2
Sales volume
Net sales

9,881

11,108Crude oil

87,880 Mbbls

626,596

92,214 Mbbls

390,314Natural gas(excluding LPG)

307,472 MMcf

202,423

343,758 MMcf

189,925

249 Mbbls

2,142

210 Mbbls

2,125

LPG
Other

13,471

10,433

Total

844,635

592,798

Note: 1. The above amounts do not include the related consumption tax.
2. The corresponding period for the third quarter of the fiscal year ending December 31, 2020 from January 1, 2020 to September 30,
2020 is the nine-month period of the previous year from January 1, 2019 to September 30, 2019.
3. Sales volumes are rounded to the nearest whole number.

12