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September 11, 2015

INPEX Updates Production Schedule andRaises LNG Production Capacity of Ichthys LNG ProjectTokyo, Japan - INPEX CORPORATION (INPEX) announced today it has updated theexpected production start-up schedule and raised the anticipated production capacity of theIchthys LNG Project, which it is currently developing as Operator alongside its project partners.
Production, which was initially expected to start toward the end of December 2016, is now
expected to start in the third quarter of 2017 (July-September 2017). Meanwhile, INPEX willraise the annual LNG production capacity by approximately 6% to 8.9 MTPA from the initiallyplanned 8.4 MTPA.
Since January 2012, when INPEX announced its final investment decision on the Ichthys LNG
Project, the company has worked on developing the project in various locations around theworld. While the project’s overall development was approximately 74% complete as of June
2015, INPEX updated the production start schedule based on the findings of a detailed reviewof the project’s development schedule. The company will continue to diligently proceed withdevelopment work while prioritizing safety.
It is expected that the revised production start-up schedule and other factors will increase theproject’s investment. However, the increase is expected to be limited to approximately 10%.
INPEX anticipates that the annual LNG production capacity will increase by approximately 6%
to 8.9 MTPA from the initially planned 8.4 MTPA. This increase in production capacity is basedon the company’s recent technical evaluation of the latest technological information pertaining
to the entire LNG production system.
In addition, the updated schedule reflects the expectation of a shortened time frame between
the start of production and the point where stable production is reached.
“The Ichthys LNG Project is a world-class project with an expected operational life of at least
40 years. All the LNG initially planned to be produced from the project has been sold. Of this,about 70% of the LNG is set to be supplied to Japan, and this is expected to further contributeto the long-term, stable supply of energy to the country and improve Japan’s energy
procurement risk management,” said INPEX CORPORATION President & CEO Toshiaki

Kitamura.
“The project is also expected to make a significant contribution to the social and economic
development of Australia, one of the world’s foremost producers of energy. INPEX will guidethe Ichthys LNG Project to success, working closely with its project partners, local
communities, Australia’s federal government as well as the governments of Western Australia
and the Northern Territory, other project stakeholders and the wider Australian public to seek
their continued understanding and support.”
The impact of the production start schedule update, if any, on the consolidated financialresults for the year ending March 31, 2016 is expected to be minimal. The company plans tocover the costs of the project through its own funds as well as external loans (project financing,etc.) as originally scheduled.

About the Ichthys LNG Project
The Ichthys LNG Project is a project led by INPEX (Operator, participating interest: 62.245%)
alongside TOTAL (participating interest: 30%), CPC Corporation Taiwan (participatinginterest: 2.625%), Tokyo Gas (participating interest: 1.575%), Osaka Gas (participatinginterest: 1.2%), Kansai Electric (participating interest: 1.2%), Chubu Electric Power(participating interest: 0.735%) and Toho Gas (participating interest: 0.42%) that involves
liquefying natural gas lifted from the Ichthys Gas-condensate Field offshore Western Australia
at an onshore gas liquefaction plant constructed in Darwin, Northern Territory, and producing
and shipping 8.9 million tons of LNG and 1.6 million tons of LPG per year, along withapproximately 100,000 barrels of condensate per day at peak. The Ichthys LNG Project is alarge-scale LNG project by global standards, and is expected to be operational over a periodof 40 years. In 1998, INPEX acquired an exploration permit in the block where the project islocated, and following development studies including exploration, evaluation and FEED work,
the company announced its final investment decision (FID) in January 2012.
Media Contact: INPEX Tokyo Office, Public Relations Group, Tel) +81-3-5572-0233