1. Overview, access & management

2. Organizational chart(As of June 26, 2018)

Company Name

INPEX CORPORATION

CompanyHeadquarters

Akasaka Biz Tower 5-3-1 Akasaka, Minato-ku,Tokyo 107-6332, Japan
Phone: +81-3-5572-0200

Established

April 3, 2006

Fiscal Yearend

MarchCapital¥290,809,835,000

General Meeting ofShareholders

Audit Unit

HSE Unit
Board of Directors

Audit ＆ Supervisory Board(Member)

General Administration Division

Executive Committee

President & CEO

Corporate Strategy & Planning Division

Nomination and Compensation
Advisory Committee

New Ventures Division

Finance & Accounting Division
INPEX Advisory Committee
Logistics & IMT Division

Number ofEmployees(Consolidated)

3,189(As of March 31, 2018)

Main BusinessResearch, exploration, development, production and sales of oil, natural gas
and other mineral resources, other related businesses and investment and lending to the companies engaged in these activities, etc.

Compliance Committee

Technical Division

CSR Committee

Global Energy Marketing DivisionCorporate HSE Committee

Domestic Energy Supply &Marketing Division

Information Security
Committee

INPEX Value Assurance
System Committee

Asia, Oceania & Offshore
Japan Project Division
America & Africa ProjectDivision
Eurasia & Middle East ProjectDivisionAbu Dhabi Project Division

Masela Project Division

Ichthys Project Division
Domestic Exploration &Production Division
Renewable Energy & PowerBusiness Division

66

Supplementary materials

1. Overview, access & management／2. Organizational chart67

3. Mission and CSR Principles and INPEX Values

Mission and CSR Principles

INPEX Values

The INPEX Group has formulated a Mission, CSR Principles, Business Principles, and Code of Conduct.
Our Mission reflects our objective of playing an active role in social development. Our CSR Principles
directs our CSR initiatives and reaffirms our commitment to promoting them. Our Business Principles
describes how every officer and employee as individuals of the Group should perform ethically on a daily
basis. Additionally, our Code of Conduct puts our Business Principles into practice.

INPEX Values serve as a common foundation to unite our global workforce as one team in our vision to
become a top class exploration and production company.
Our values represent our shared understanding of the behaviors we strive to demonstrate in the way wework.

◆Mission

Collaboration

SafetyIngenuity

Integrity

We are committed to contributing to the creation of a brighter future for society through our efforts todevelop, produce and deliver energy in a sustainable way.
◆CSR Principles

The INPEX Group conducts business efficiently and proactively with a long-term perspective. Guided by
the leadership of top management, we are committed to fulfilling our corporate social responsibilities bytaking into consideration our stakeholders' interests. Our key principles include:

Diversity

1. Deliver energy in a stable and efficient manner.

Safety2. As a company responsible for energy supply, strictly maintain safety in operation and control in allareas of our business activities.

◆3. Comply with laws, rules and regulations and adhere to ethical business conduct in accordance with thesocial norms including human rights at our international or operating locations.

Anzen dai ichi - 'Safety Number One' - is the way we think, act and promote safety atINPEX that forms the core of a strong HSE culture.

4. Communicate timely and openly with shareholders, employees, customers, business partners andother stakeholders while protecting and properly managing information.

◆5. Value the individuality of employees, secure a safe, healthy and worker-friendly environment, andprovide opportunities for career development.
6. Recognize our responsibility to help preserve the environment and proactively contribute to sustainable development.
7. Contribute to the economic development of host countries and communities, by taking cultural diversity into consideration.

Integrity

We are ethical, honest and trustworthy in our business relationships and professional in
our conduct at all times.
◆Diversity

We proactively embrace our individual differences which is central to who we are at INPEX
and what makes a unique and welcoming workplace environment.
◆Ingenuity

We embrace initiative and innovative problem-solving at every level of INPEX and celebrate our successes at every opportunity.
◆Collaboration

We rely on unity and team spirit to build strong professional working relationships within
INPEX as well as within the communities in which we operate.

68

Supplementary materials

3. Mission and CSR Principles and INPEX Values69

4. List of senior management’s terms
2008
10/1

2009

2010

2011

2012

2013

2014

2015

2016

201７

2018

6/25

6/23

6/28

6/26

6/25

6/25

6/24

6/28

6/27

6/26

200810/1

Kunihiko Matsuo

Toshiaki Kitamura

Masatoshi Sugioka

Yoshinori Yamamoto

Naoki Kuroda

Hajime Kawai

Hisatake Matsuno

Atsushi Sakamoto

Katsujiro Kida

Arihiro Kezuka

Mutsuhisa Fujii

Kimiya Hirayama

Seiji Yui

Koji Sumiya

Kunio Kanamori

Masaru Funai

Masaharu Sano

Seiji Kato

Shunichiro Sugaya

Nobuharu SaseSeiya Ito

Shigeharu Yajima

Takahiko Ikeda

Tetsuro Tochikawa

Kazuo Wakasugi

Yoshiro Ishii

Hisanori Yoshimura

Toshiya Oshita

Yoshiyuki Kagawa

Rentaro Tonoike

Shigeo Hirai

Yasuhiko Okada

Shigeru HayashiKimihisa Kittaka

Haruhito Totsune

Hideki Iwashita

Shigeru Watanabe

Hiroshi Fujii

Hiroshi Sato

Tetsuo Yonezawa

Fumiya Kokubu

Hiroshi Nakamura

Noboru Tezuka

Hideyuki Toyama

Kyosuke Furukawa

Michiro Yamashita

Shigeru Usui

Tsuyoshi Watanabe

Yoshitsugu Takai

Hiroji Adachi

Sadafumi Tanigawa

Jun Yanai

Kasaburo Tamura

Isao Matsushita

Akinori Sakamoto

Nobusuke Shimada

Wataru Tanaka

Norinao Iio

Kazuhiko Itano

Atsuko Nishimura

Shuhei Miyamoto

Kazuyoshi Miura

Yoshikazu Kurasawa

Takayuki Ueda

Noboru Himata

Hideki Kurimura

Takashi Kubo

Toshiaki Takimoto

Kazuo Yamamoto

Yuzo Sengoku

Kenji Kawano

Yosuke Happo

Yasuhisa Kanehara

Yoichi Iwata

Toshihiko Fukasawa

Hitoshi Okawa

Hirohisa Ota

Koichi Ogino

20092010

2011

2012

2013

2014

2015

2016

201７

2018

8/1

6/23

6/28

6/26

6/25

6/25

6/24

6/28

6/27

6/26

8/1

Representative Director, Chairman

Director, Managing Executive Officer

Representative Director, Vice Chairman

Outside Director

Representative Director, President & CEO

Audit & Supervisory Board Member

Representative Director

Audit & Supervisory Board Member (Outside)

Senior Executive Vice President

Senior Managing Executive Officer

Director, Senior Executive Vice PresidentManaging Executive Officer

Director, Senior Managing Executive Officer

Executive Officer

8/1

Masahiro Murayama

70

Supplementary materials

4. List of senior management's terms

71

5. Segment overview

Eurasia

Fiscal year ended March 31, 2018

Number ofcountries

of5 Number
projects total

Net sales
8 （￥million）

88,597

Projects inproduction

4 Underdevelopment

Operating income
0 （￥million）

21,396

Preparation fordevelopment

0 Under
exploration

Proved reserves
3 （millionBOE）

271

Other1Net production（million BOE）

45

Oslo Oﬃce（Norway）

London Oﬃce

Calgary Oﬃce

Astana Oﬃce

（U.K.）（Canada）（Kazakhstan）

Tokyo Head Oﬃce

Japan

Fiscal year ended March 31, 2018

● Minami-Nagaoka Gas Field Net sales● Naoetsu LNG Terminal （￥ million）● Natural gas pipeline
network (Approx.
Operating income
1,500 km), etc.
（￥ million）

Abu Dhabi Oﬃce

（United Arab Emirates）

120,060
25,256

Proved reserves（million BOE）
Net production（million BOE）

Houston Oﬃce

（U.S.A.）

166
31

Caracas Oﬃce

（Venezuela）

Singapore Oﬃce

（Singapore）

Middle East & Africa

Fiscal year ended March 31, 2018

Number ofcountries

5Projects inproduction

7 Underdevelopment

Operating income
0 （￥305,056million）

Preparation fordevelopment

0 Under
exploration

Proved reserves
2 （millionBOE）

Number of
projects total

9

Net sales（￥ million）

Net production（million BOE）

Jakarta Oﬃce

565,244（Indonesia）

Darwin Oﬃce

（Australia）

2,293

Rio de Janeiro Oﬃce

（Brazil）

Perth Oﬃce

257

（Australia）

Americas
Asia & Oceania
Number ofcountries
Projects inproduction
Preparation fordevelopment

Fiscal year ended March 31, 2018

5Number ofprojects total

40

11Underdevelopment

1Under
exploration

Net sales（￥ million）

2

Operating income（￥ million）

28,40526

Proved reserves（million BOE）

1,119

Net production（million BOE）

72

Supplementary materials

148,837

Fiscal year ended March 31, 2018

Number ofcountriesofNet sales
6 Number
15 （￥projects totalmillion）

10,964

Projects inproduction

9 Underdevelopment

Operating loss
0 （￥million）

10,656

Preparation fordevelopment

1 Under
exploration

Proved reserves
5 （millionBOE）
Net production（million BOE）

92591
5. Segment overview

73

6. Trend of business results

Crude oilNet probable reserves (Natural gas)

Natural gas

Net probable reserves (Crude oil)

Other

Net proved reserves (Natural gas)

Editor’s note:

Net proved reserves (Crude oil)Net production volumes

Reserves

Net sales(Thousand BOE/day)
600(MMBOE)
6,000(Million yen)
1,500,000

500

5,000

400

4,000

1,200,000

900,000
3,000

300

600,000

200

2,000

100

1,000

0

2007 08

09

101112131415

1617 18（Fiscal year）

0300,0002007 08

09

10111213

1415

16

0

17 18（Fiscal year）

2007 08

09

1011

12（1）Trend of net production volumes

1314

15

16(Thousand BOE/day)Fiscal year

2007

2008

2009

2010

2011

2012

2013

2014

2015

2016

2017

2018

Crude oil242.50241.50223.20218.30239.60251.20245.90244.90242.70339.20348.30329.10Natural gas

175.19181.50181.68187.10183.74174.98161.89163.89165.36

174.64173.01120.82

Total

417.69423.00404.88405.40423.34426.18407.79408.79408.06513.84521.31449.92（2）Trend of reserves
Fiscal year

2007

Crude oil
Provedreserves

Net
probable
reserves

1,139

2008
1,088

2009

2010

1,048

2011

980

2012

2013

20142015

2016

2017

Nobuharu Sase, Chairman

2018

899

981

929

1,278

1,213

2,143

2,210

2,747

Natural gas

631

557

550

495

409

1,451

1,259

1,254

1,221

1,121

1,094

1,110

Total

1,770

1,645

1,598

1,475

1,308

2,432

2,188

2,532

2,434

3,264

3,304

3,857

Crude oil

1,610

1,274

1,603

1,476

1,393

734

769

854

715

796

521

583

Natural gas

349

1,447

1,573

1,453

1,425

1,089

1,138

1,091

895

909

868

860

Total

1,959

2,721

3,176

2,929

2,818

1,823

1,907

1,945

1,610

1,705

1,389

1,443

(Million yen)

Fiscal year

2007

2008

2009

2010

2011

2012

2013

2014

2015

2016

2017

2018

Crude oil

607,400

783,465

650,352

486,920557,910726,222788,135

858,753

730,422679,241

617,194710,277

Natural gas

332,937

391,090398,266

326,412356,247

429,065

397,766

455,414421,859

316,761

242,575

208,102

Other

29,37528,40927,54527,09428,921

31,44330,631

20,457

18,944

13,561

14,653

15,322

Total

969,712 1,202,965 1,076,164

840,427

943,080 1,186,731 1,216,533 1,334,625 1,171,226 1,009,564

874,423

933,701

Supplementary materials

(MMBOE)（3）Trend of net sales by product74

17 18（Fiscal year）

With INPEX celebrating the 10th anniversary since forming a new company on October 2018,
we decided in 2016 to publish a short history of the company as part of the anniversary celebrations.
Despite concerns that 10 years may be too short for such a publication, we moved forward withthe belief that it’s the right time to record our thoughts on the merger and integration of the businesses, and the 10th Anniversary Publication Editing Committee was established to put it together.
Senior Corporate Advisors Naoki Kuroda and Masatoshi Sugioka, who led the companies prior
to the merger, have contributed their thoughts about the time of the merger and their hopes forthe company on our 10th anniversary. Corporate Advisor Seiji Yui and Counselors Wataru Tanaka
and Katsujiro Kida played a role as advisors to the editing committee to ensure the accuracy of thispublication.
On behalf of the editing committee I hope this short history provides an interesting look backover the past 10 years of INPEX, and that it helps in particular the younger members of staff whojoined after the merger understand the circumstances of the time. I hope it also conveys some of theexcitement of the world of oil development and encourages our younger generations to take a stronger
step forward in our industry.
Finally, I would like to offer my sincere thanks to all members of the editing committee andothers within the company who cooperated throughout this process, providing photographs and documents, responding to interview requests and proofreading the manuscript.
Thank you also to the people of Dai Nippon Printing for their tremendous cooperation.

Staff:

Koichiro Kobayashi
Takao Umeno
Masanori Itozawa
Keisuke Yano
Yuko Mori
Masami Mitani
Norihiko Kobayashi
Akira Kato
Tomomi Kikawada

75