Index / Unit Conversion

Financial / Accounting

Non-Financial Information

12-year ﬁnancial information ............................................. 97­99
Background information(Oil and gas accounting policies and treatment) ............ 100­
Cash ﬂow related data.............................14–15, 97­99, 109, 114
Consolidated Balance Sheet .......................................... 110­111
Consolidated Statement of Cash Flows ..................................114
Consolidated Statement of Income ........................................112
Dividends / return for shareholders ............. 14–15, 16, 25, 97–99
Financial and operating highlights ................................14–15, 16Finance and funding ......................................................26, 40, 96
Investment plan ............................................................ 40­41, 96
MD&A (Managementʼs discussion and analysis of
ﬁnancial condition and results of operations) ..................103–
Notes to Consolidated Financial Statements ........................115–
Stock splits and lowering the minimum investment unit ....20, 25, 128
Subsidiaries and afﬁliates ................................................130–131

Business model and strengths .............................................34–35
Business topics ....................................................................18–20
Comparison with peers .............................................................42
Gas supply chain .................................................................35, 71
Greetings from the representative directors .......................22–23
Market environment ............................................................38–39
Message from the President................................................24–32
Number of projects .............................................................58–59
Oil and gas demand forecast ..............................................37–39
Production volume ..............................14–15, 17, 28, 34, 42, 143
Production indices .....................................................................17
Reserves .............................................14-15, 17, 34, 42, 140–142
Reserves indices ........................................................................17
Oil price, exchange rate and INPEX share price .................14–15
Strategies and management plan
(Medium- to Long-Term Vision of INPEX) ...............27, 40–41

Projects

ESG (Environment / Social / Governance)

Abadi LNG Project (Indonesia) ......................................19, 26, 63
ACG Oil Fields (Azerbaijan) .......................................................65
ADMA Block (U.A.E.) .................................................................67
Bayu-Undan Project(Timor Sea Joint Petroleum Development Area (JPDA)) ..........62
BTC Pipeline Project ..................................................................65
Shale Gas Project (Canada) ................................................45, 69
Geothermal ...............................................................................46
Copa Macoya and Guarico Oriental Blocks (Venezuela) ...........69
Ichthys LNG Project (Australia) ..........................19, 26, 28, 48–56
Joslyn Oil Sands Project (Canada) .............................................69
Kitan Oil Field (JPDA) ................................................................62
Mega Solar Joetsu...............................................................20, 47
Minami-Nagaoka Gas Field ......................................................71
Naoetsu LNG Terminal ..............................................................71
Offshore Angola Block 14 (Angola) ....................................18, 67
Offshore D.R. Congo Block(Democratic Republic of Congo) ........................................67
Offshore Mahakam Block and Attaka Unit (Indonesia) ........26, 61
Offshore North Caspian Sea Contract Area
(Kashagan Oil Field (Kazakhstan)) ........................................65
Prelude FLNG Project (Australia) ...............................................63
South Natuna Sea Block B (Indonesia) ......................................61
Van Gogh Oil Field and Ravensworth Oil Field (Australia) ........62

Accident frequency occurrence ...........................................17, 77
Advisory committee.......................................................20, 82, 94
Anti-corruption initiatives ..........................................................88
Board of Directors, Auditors and Executive Directors................................................................................. 84–85, 90–94
Business risks ...................................................................132–139
Compensation for directors and auditors..................................83
Compliance ...............................................................................88
Contributing to local communities ..................................... 80­81
Corporate governance ..................................................74, 82–89
CSR initiatives ......................................................................74–81
Disclosure structure and IR activities .........................................89
Environmental activities .......................................................74, 78
General Meeting of Shareholders .............................................89
HSE ......................................................................................76–77
Human rights, human resources and diversity...........................79
Number of employees.......................................................74, 147
Class A Stock ............................................................ 86, 138–139

Unit Conversion
Crude oil

Natural gas

1 kl 㲈 6.29 barrels

1 cf 㲈 1,000 Btu*

Sale gas

1 ton 㲈 7.4 barrels

1 billion m3 㲈 700,000 tons (LNG)

1 barrel 㲈 6,000 cf (natural gas)

100 million cf/day
㲈 700,000 tons/year (LNG)

100,000 barrels/day
㲈 4 million tons/year (LNG)

1 trillion cf 㲈 1 million tons(LNG) (20 million tons)

LPG

1 ton1m 㲈 37.32 cf
3

㲈 10.5 barrels(crude oil)

LNG

1 ton
㲈 8.8 barrels (crude oil)
㲈 1,400 m3 (natural gas)
㲈 53 million Btu*

20 years*British thermal unit
Note: Unit-equivalent ﬁgures are estimates. Conversion ﬁgures used for production and reserves in this Annual Report may be different from the above conversion ﬁgures. We do notguarantee those ﬁguresʼ accuracy as applied to dealing or veriﬁcation.

146

INPEX CORPORATION Annual Report 2013

Corporate Information(As of March 31, 2013)

Corporate Data
Company Name
INPEX CORPORATION
EstablishedApril 3, 2006
Capital¥290,809,835,000
Company Headquarters
Akasaka Biz Tower, 5-3-1 Akasaka, Minato-ku,
Tokyo 107-6332, Japan

Number of Employees (Consolidated) 2,455
Main BusinessResearch, exploration, development, production and sales of oil, natural gas and othermineral resources, other related businesses
and investment and lending to the companies
engaged in these activities, etc.

Organization Chart (As of June 30, 2013)
General Meeting ofShareholders

Board of Directors

Board of Auditors

INPEX Advisory
Committee

ExecutiveCommittee

President

CSR Committee

Audit Unit

Technical Division

Masela Project Division

HSE Unit

Oil & Gas Business Division 1

Ichthys Project Division

General Administration
Division

Oil & Gas Business Division 2

Domestic Project DivisionCorporate Strategy &Planning Division

Asia, Oceania & Offshore
Japan Project Division

Gas Supply &Infrastructure Division

New Ventures Division

America & Africa
Project Division

Finance & Accounting Division

Eurasia & Middle East
Project Division

Compliance Committee
Corporate HSECommittee
Information SecurityCommittee

Logistics & IMT Division

Stock Data
Authorized Shares: 9,000,000 common stocks*1

Total Number of Shareholders and Issued Shares
Common Stocks:
40,609 shareholders / 3,655,809 shares*1
Class A Stock*2:
1 shareholder (Minister of Economy,Trade and Industry) / 1 share

1 Class A Stock*1 Scheduled to implement a stock split at a rate of 1:400 of common stock at the effective
date of October 1, 2013.
*2 The Companyʼs Articles of Incorporation stipulate that certain major corporate decisions require a resolution by the holder of the Class A Stock in addition to the approvalof the shareholdersʼ meetings or Board of Directors.

Major Shareholders (Common Stocks)
Name

Shareholding by Shareholder Type
Number of Percentage ofshares total shares* (%)

Minister of Economy, Trade and Industry

692,307

18.9

Japan Petroleum Exploration Co., Ltd.

267,233

7.3

Mitsui Oil Exploration Co., Ltd.

150,760

4.1

The Chase Manhattan Bank, N.A. London Secs
Lending Omnibus Account

149,800

4.1Japan Trustee Services Bank, Ltd. (Trust Account)

131,960

3.6

Mitsubishi Corporation

114,500

3.1

The Master Trust Bank of Japan, Ltd.
(Trust Account)

113,748

3.1

JX Holdings, Inc.

109,527

3.0

CBNY - Orbis Funds

78,166

2.1

JP Morgan Chase Bank 380055

76,155

2.1

Shareholder type

Number of Number of Percentage ofshareholders
shares total shares*1 (%)

Financial Institutions(Including Trust Accounts)

113

559,217

15.3

Securities Companies

60

34,534

1.0

Other Domestic Corporations

450

719,79419.7

1692,307

18.9

653

1,529,380

41.8

39,331

115,661

3.214,916

0.1

Minister of Economy,
Trade and Industry*2
Foreign Corporations and Other
Individuals and Other
Treasury Stock*1 Percentage of total shares are for all issued and outstanding shares.
*2 Excludes one Class A Stock* Percentage of total shares are for all issued and outstanding shares.

Home Page

The Companyʼs Web site provides investors with the most up-todate IR information, including financial statements.
} inpex.co.jp/english

Inquiries
For IR inquiries, as well as to offer comments and opinions about
this report, please contact below.
Corporate Strategy & Planning DivisionCorporate Communications Unit
Investor Relations Group
Phone: +81-3-5572-0234, Fax: +81-3-5572-0235
Web site: inpex.co.jp/en/ir/inquiries