Note: The following press release is an English translation of the Japanese-language originalDecember 24, 2013
Company Name:Japan Petroleum Exploration Co., Ltd. (JAPEX)Securities Code:

1662 Tokyo Stock Exchange, First Section

President:

Osamu Watanabe

Inquiries:

Shoji Mihara,
General Manager, Media and Investor Relations Department

TEL:+81-3-6268-7110

Successful Award of Offshore Exploration Licenses, Kanumas Area,
Greenland Self-Government (Licensing Round 2012/2013 in Greenland Sea Area)
Japan Petroleum Exploration Co., Ltd. (hereafter, “JAPEX”) is pleased to announce thatthrough Greenland Petroleum Exploration Co., Ltd. (hereafter, “GreenPeX”), it wassuccessful in the 2012/2013 Licensing Round in Greenland Sea Area, GreenlandSelf-Government, and won the two offshore explorations licenses, Block 9 and Block 14,in Kanumas Area, northeastern part of offshore Greenland, jointly with Chevron andShell. The Joint venture has also entered into the licensing contracts for Block 9 andBlock 14 and concluded as 2013/45 License and 2013/46 License, respectively, with theMinistry of Industry and Mineral Resources of Greenland.
2013/45 License and 2013/46 License are located in Kanumas Area, approximately60-200 km northeastern part of offshore Greenland with a water depth of approximately
150m to 450m and span area of 2,220 km2 and 2,634 km2, respectively. Kanumas Area
is a frontier area where no well has been drilled for oil and gas exploration, and many
E&P* companies have taken their interests for expected major oil and gas discoveries.
In these exploration licenses, Chevron as the Operator, Shell and Greenland Petroleum
each holds 29.1667% participating interest while Greenland national oil company,
Nunaoil, holds 12.5% participating interest. The aforesaid participants will conduct
exploration activities including seismic acquisition etc. in these Licenses for the new
discovery of oil and natural gas.
*E&P: Exploration and Production

Please be advised, in addition, that this exploration project has been financially assisted
by Japan Oil, Gas and Metals National Corporation.
JAPEX has been identifying the E&P business as one of JAPEX’s major growthstrategies in our Medium-Term Business Plan. JAPEX plans to increase production
volume and proved reserves by shifting exploration and development investment
overseas. Going forward, JAPEX also continue to proactively pursue business activities
to develop new projects.
1/2Attachment【About the Licenses】
Block Name

Block 9Block 14

AreaApprox. 2,220 km2

Approx. 2,634 km2

Water Depth

150-450m

Location

Approximately 60-200 km northeastern part of offshore Greenland
GreenPeX
29.1667%
Chevron (Operator)
29.1667%
Shell
29.1667%
Nunaoil
12.5%

Participating
Interest【Outline of GreenPeX】

Establishment：

23th May 2011

Registered Company Name ：Greenland Petroleum Exploration Co., Ltd

President：

Toshiaki Kitamura

Address：

5-3-1, Akasaka, Minato-ku, Tokyo, Japan

Capital：JPY 1,157,288,000

Accounting Closing Month：December

Shareholders：Shareholders(As of 30 November 2013)
Investment Ratio,( ):Voting Rights

JAPEX

6.6%

( 8.1%)

Japan Oil, Gas and Metals National Corporation

59.4%(50.0%)INPEX CORPORATION

23.5%(28.9%)JX Nippon Oil & Gas Exploration Corporation

9.0%(11.1%)

Mitsui Oil Exploration Co., Ltd.

1.5%

( 1.9%)【Location of Exploration Licenses】

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