Note: The following is an English translation of the Japanese-language original

November 28, 2018
Japan Petroleum Exploration Co., Ltd.
Media and Investor Relations Dept.
(Tel: +81-3-6268-7110)

Establishment of New Organization concerning New Business Promotion
and Appointment of Business Executive in Charge

Japan Petroleum Exploration Co., Ltd. (JAPEX) announced the establishment of a new organization
named "New Business Promotion Office" and appointment of the business executive on December 1, 2018, tostrengthen our structure for identification and promotion of new business opportunities as follows:

1. Establishment of New Business Promotion Office (on December 1, 2018)
JAPEX released "Long-term Vision 2030" with the aspiration toward 2030 of "Growth to the Integrated
Energy Company Utilizing our Oil and Gas E&P(*1) and its Supply Basis," and "Mid-term Business Plan
2018-2022" to determine our management direction and business priority for coming five years from fiscal
2018(*2).
Based on the vision and plan, we discussed to consider our structure for creation and expansion of theenvironmentally-conscious new business in addition to stable promotion of our ongoing business such as oiland gas E&P and domestic gas supply, aiming to play an active role for the resolution of global-scale issues
particularly in low-carbon/decarbonized ways with our capabilities in ongoing business. As a result, on
December 1, 2018, New Business Promotion Office will be established as a dedicated organization forcontinuous and flexible promotion of new businesses.
New Business Promotion Office is an independent organization, which does not belong to existing businessdepartments, for pursuing new business promotion proactively under the perspective of long-and-mid-termbusiness transformation. This new organization will identify business seeds and promote business planningas the engine of new business promotion in the JAPEX group.
In the new area and market where the technologies and knowledge of the JAPEX group can be applied,New Business Promotion Office will identify the viable potential of new business through creating uniquebusiness seeds and new business ideas from an internal posting site. This new organization will examine its
possibility for commercialization and develop the business model through the collaboration withcross-sectional or external. After its business plan for the commercialization was confirmed through theseprocesses, the initiative of the new business opportunity will be transferred to the existing businessdepartments or new business organization specially established for getting the opportunity on the righttrack as the commercial business.

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2. Appointment of Business Executive (As of December 1, 2018)
Name
Kazuhiko Ozeki

New Title

Current Title

Director,Director,Managing Executive Officer, Responsible forManaging Executive Officer, Responsible forOverseas Projects, In charge of Corporate

Overseas Projects, In charge of Commercial Office

Strategy Dept., In charge of Media and Investor

for Overseas Projects, In charge of Corporate

Relations Dept., In charge of Commercial Office

Strategy Dept., In charge of Media and Investorfor Overseas Projects, In charge of New BusinessRelations Dept.

Promotion Office(New appointment is underlined)

Note)*1: "E&P" means Exploration & Production.
*2: Please refer "Long-term Vision and Mid-term Business Plan of JAPEX" released on May 11, 2018.
https://www.japex.co.jp/english/newsrelease/pdfdocs/JAPEX20180511_LongVision%26MidPlan_e.pdf###Page 2 / 2