Public Relations Group, Corporate Communications Unit
Akasaka Biz Tower, 5-3-1 Akasaka, Minato-ku, Tokyo 107-6332 JAPAN1 March 2013

Completion of the transfer of the Ichthys LNG Projectequity Interest (6%) to TOTALINPEX CORPORATION (INPEX) is pleased to announce that INPEX and TOTAL S.A.
(TOTAL) have completed the necessary procedures to transfer a 6% of the Ichthys LNG
Project equity interest(*) to TOTAL group companies.
(*)

The Ichthys LNG Project equity interest includes the following elements:

1. Participating interest in production licenses WA-50-L (Ichthys gas-condensate field) and WA-51-L
2. Participating interest in exploration permit WA-285-P (adjacent to WA-50-L)
3. Shares of Ichthys LNG Pty Ltd (a downstream company which owns the LNG facilities,liquefies natural gas and does marketing LNG and liquids)

As a result of the transfer, the Ichthys LNG Project equity interest will be as follows:• INPEX
66.070%
••
•
•
•

TOTAL

30.000%Tokyo Gas

1.575%

Osaka Gas

1.200%

Chubu Electric

0.735%

Toho Gas

0.420%

Upon the completion of the transfer, INPEX’s ordinary income and income before
income taxes in its consolidated financial results for the year ending March 31, 2013 areexpected to increase by approximately 42.0 billion yen respectively.

Since suchincrease has been already incorporated in INPEX’s forecasts for consolidated financial
results for the year ending March 31, 2013 announced on February 6, 2013, theforecasts will not be revised.
The Ichthys LNG Project Joint Venture participants appreciate the continued support fromthe local communities, the governments of Australia, Western Australia and NorthernTerritory, as well as support from other stakeholders for timely delivery of the Ichthys LNG
Project.

Public Relations Group, Corporate Communications Unit
Akasaka Biz Tower, 5-3-1 Akasaka, Minato-ku, Tokyo 107-6332 JAPAN

About the Ichthys LNG Project
The Ichthys LNG Project is a Joint Venture between INPEX group companies (theOperator), major partner TOTAL group companies and the Australian subsidiaries ofTokyo Gas, Osaka Gas, Chubu Electric Power and Toho Gas.
INPEX acquired an exploration permit for a block offshore Western Australia in an open
bid conducted in 1998.

INPEX confirmed the presence of gas and condensate

sufficient for commercial development in the block through its exploration and appraisalworks.

Front End Engineering and Design (FEED) works began in 2009. INPEX

obtained the necessary government approvals, concluded LNG SPAs with the gas
buyers before INPEX made the Final Investment Decision (FID) in January 2012.
Gas from the Ichthys Field, in the Browse Basin offshore Western Australia, will
undergo preliminary processing offshore to remove water and raw liquids including
condensate. The gas will then be exported to the onshore processing and liquefaction
facilities in Darwin via an 889km pipeline.

The Ichthys LNG Project is expected toproduce 8.4 million tonnes of LNG and 1.6 million tonnes of LPG per annum, along withapproximately 100,000 barrels of condensate per day at peak.
Detailed Engineering, Procurement and Construction (EPC) of the Project is now
ongoing and the production will start by the end of 2016.

Media Contact: INPEX Tokyo Office, Public Relations Group, Tel) +81-3-5572-0233