FACT BOOK 2009

Transcription

1 9 FACT BOOK 9 9

2 C O N T E N T S PROFILE INPEX CORPORATION is a worldwide oil and gas exploration and production (E&P) company, the largest in Japan. The business environment all around us has been rapidly increasing severity and uncertainty. There has been the slowdown of global economic conditions and energy demand since the second half of 8 and a resulting sharp drop in oil and gas prices. What s more, our industry faces intensified competition for resources, and rising technical and ecnomic hurdles in development projects. In such a business environment, we will take full advantage of our balanced asset portfolio, while strengthening our presence as a global E&P company and stretching our capabilities as an operator. Our aim is to raise the overall level of our business activities to achieve growth and ensure a stable and efficient supply of energy. Additionally, it is our hope as Japan s leading E&P company to ensure consistent profitability and sustain growth over the medium-to-long term, thereby winning the trust of society and opening the path to further advancement. 8 MARKET DATA Worldwide Oil & Exploration and Production Activities Market Data (Price/Exchange Rate/Stock Markets) Market Data (World) Market Data (Japan) OPERATING DATA 12 8 INDEX DATA Profitability Indices Efficiency Indices Productivity Indices HISTORY INPEX CORPORATION 1966 Established as North Sumatra Offshore Petroleum Exploration Co., Ltd. in conjunction with production sharing contract signed with PERMINA (now PERTAMINA) related to the Offshore North Sumatra Block. 197 Attaka Field discovered in Offshore Mahakam. Teikoku Oil 1941 Teikoku Oil is founded as a semigovernmental company in accordance with the Teikoku Oil Law to unify the existing Japanese oil exploration companies at the time. 195 Teikoku Oil becomes a private company. Left and center: Ichthys project, Australia 1975 Changed corporate name to Indonesia Petroleum, Ltd Japan s first long-distance natural gas pipeline between Tokyo and Niigata Prefecture (Tokyo Line, 31 kilometers) is completed. 31km 1 Changed corporate name to INPEX CORPORATION 4 Acquisition of Japan Oil Development Co., Ltd. (JODCO), which develops and produces crude oil at giant fields offshore Abu Dhabi in the United Arab Emirates The Minami Nagaoka Field with Japan s largest reserve of natural gas is discovered in Niigata Prefecture Production at the Minami Nagaoka Field begins with completion of Koshijihara Plant. Right: Exploration work, Libya INPEX CORPORATION 6 INPEX and Teikoku Oil established a joint holding company, INPEX Holdings, Inc. for management integration. 8 Through merger with INPEX and Teikoku Oil, INPEX Holdings changed its name to INPEX CORPORATION and became an operating holding company to ensure a more effective and flexible management structure. Company headquarters moved to Akasaka, Tokyo. Stability Indices Performance Indices Reserves/Production Indices OPERATING DATA Oil and Reseves Oil and Net Production Sales Volume Business Investment/Others FINANCIAL DATA INPEX CORPORATION (7/3~) INPEX CORPORATION (2/3~6/3) Teikoku Oil CO., Ltd. (1/12~6/3) CORPORATE DATA

3 WORLDWIDE OIL & GAS EXPLORATION AND PRODUCTION ACTIVITIES 世界におけるプロジェクト一覧 Projects プロジェクト Operating projects オペレータープロジェクト ACG Oil Fields (Caspian Sea, Azerbaijan) ACG油田 アゼルバイジャン カスピ海 Offshore Mahakam Block (Offshore East Kalimantan, Indonesia) Producing crude oil (since 1997 Participating Interest: 1% マハカム沖鉱区 インドネシア 東カリマンタン沖合 Producing crude oil and natural gas (since 1974 Participating Interest: 5% 原油生産中 1997年 権益比率 1 天然ガス 原油生産中 1974年 権益比率 Abadi LNG Project (Arafura Sea, Indonesia) アバディLNGプロジェクト インドネシア アラフラ海 Eurasia (Europe/NIS) ユーラシア 欧州 NIS諸国 Japan 日本 Discovered gas and condensate field (in ) and preparing for development Participating Interest: 1% ガス コンデンセート田を発見 年 開発準備作業中 権益比率 1 Middle East/Africa Americas 米州 中東 アフリカ Asia/Oceania アジア オセアニア ADMA Block (Offshore Abu Dhabi, U.A.E.) ADMA鉱区 アラブ首長国連邦 アブダビ沖 Ichthys LNG Project (Offshore Western Australia, Australia) イクシスLNGプロジェクト オーストラリア 西オーストラリア州沖合 Producing crude oil (since 1962 Participating Interest: Umm Shaif/ Lower Zakum/Upper Zakum/Umm Al-Dalkh12%, Satah4% Discovered gas and condensate field (in ) and preparing for development Participating Interest: 76% 原油生産中 1962年 権益比率 ウムシャイフ油田/下部 ザクム油田/上部ザクム油田/ウムア サター油田 4 ダルク油田 12 ガス コンデンセート田を発見 年 開発準備作業中 権益比率 76 Net sales 新潟 南長岡ガス田 日本 生産量 地域別 * 確認埋蔵量 地域別 * 4% 1,2,965 1,, 9, 2% 9% Saitama 1,79 464, , , ,15 73,687 Nagano Total 合計 2 386,9 8% 8,139 1,76, ,712 36% 45 Thousand boe/day 長野 Total 合計 46% 43% 1,598 33% MMbbl 原油換算千バレル 日 百万バレル 3, Japan 日本 栃木 群馬 1,5, 新潟県長岡市 Tochigi Gunma million 百万円 6, Minami Nagaoka Field (Nagaoka, Niigata Prefecture, Japan) Proved reserves* Net production* 売上高 Niigata LNG Import Terminal Under construction LNG受入基地 建設中 387,542 77, , ,824 93,882 93,423 7/3 8/3 9/3 Asia/Oceania アジア オセアニア Eurasia (Europe/NIS) ユーラシア 欧州 NIS諸国 6% Middle East/Africa 中東 アフリカ 13% America 米州 * Proved reserves and production volumes are calculated in accordance with U.S. Security Exchange Commission (SEC) rules. * 確認埋蔵量及び生産量は米国証券取引委員会 SEC の規則に従った数値 埼玉 Yamanashi 山梨 46% Tokyo 東京 Chiba Shizuoka 静岡 千葉 LNG Import Terminal of Shizuoka LNG受入基地 静岡ガス Pipeline of our group (approximately 1,4 km in total) 当社グループのパイプライン 延べ約1,4km Pipeline of our group under construction 建設中の当社グループのパイプライン Joint pipeline of Shizuoka and Tokyo 静岡ガス 東京ガスとの共同パイプライン Pipeline of Shizuoka 静岡ガスのパイプライン Producing natural gas and condensate (since 1984 Participating Interest: 1% 天然ガス コンデンセート生産中 1984年 権益比率 1%

4 MARKET DATA MARKET DATA Market Data (Price/Exchange Rate/Stock Markets) price trend (ICE brent/nymex WTI/CIF price in Japan) ICE brent NYMEX WTI CIF (U.S.$/bbl) ) 15 1 ICE brent NYMEX WTI CIF price in Japan CIF Exchange rate trend (Japanese yen against U.S. dollar) ( /U.S.$) MARKET DATA /1 1/1 2/1 3/1 4/1 5/1 6/1 7/1 8/1 U.S.$/bbl 9/1 Annual average ICE brent * 1 ICE brent * NYMEX WTI * 1 NYMEX WTI * CIF price in Japan * 2 CIF * Source: Petroleum Association of Japan (PAJ), etc. *1. 9: From January to June * *2. 9: From January to May * /1 2/1 3/1 4/1 5/ Average exchange rate Source: Mizuho Corporate Bank 6/1 7/1 8/1 9/1 /U.S.$ * 9: From January to June * 9 16 LNG (CIF) price trend in Japan LNG CIF World stock markets (1/1=1) 1 11 (U.S.$/ton) ASX Australia Hang Seng Hong Kong TOPIX Japan S&P5 U.S. FTSE1 U.K. 1 5 /1 1/1 2/1 3/1 4/1 5/1 6/1 7/1 8/1 U.S.$/ton 9/1 1/1 2/1 3/1 4/1 5/1 6/1 7/1 8/1 9/1 Annual average LNG (CIF) Price LNG CIF Source: Petroleum Association of Japan (PAJ) * 9: From January to May * 9 15 Steel products (steel plate) price trend in Japan ( /ton) () Reference: INPEX s share price performance vs. TOPIX TOPIX 15, 1, Average of the high and low price 15 INPEX TOPIX 1 5, /ton Annual average Steel products price (Steel plate) 44,83 39,75 4,5 45,667 75,125 83,333 8,5 81, 117, ,917 Source: Japan Metal Daily * 9: From January to June *

5 MARKET DATA Market Data (World) World primary energy consumption % 5.5% Volume of global trade () Thousand bbl/day Change 8 over share of total 8 MARKET DATA % Total 11,294.9 Million tons oil equivalent 24.1% % % 5.6% 9.8% 34.8% Proved reserves* by region and reserves to production ratio (RP ratio) (At the end of 8) *8 Million tons oil equivalent N 3,927.9 N Natural gas 2,726.1 N Coal 3,33.7 N Nuclear power N Hydroelectricity Total 11,294.9 Source: BP BP Statistical Review of World Energy 9 : BP BP Statistical Review of World Energy 9 Natural gas 7.9% 8.3% 4.8 % 4. % Imports U.S. 11,92 11,618 11,357 12,254 12,898 13,525 13,612 13,632 12, % 23.6% Europe 11,7 11,531 11,895 11,993 12,538 13,261 13,461 13,953 13, % 25.2% Japan 5,329 5,2 5,7 5,314 5,3 5,225 5,1 5,32 4, % 9.% Rest of World * ,88 16,436 16,291 17,191 18,651 19,172,287 22,937 23,78.6% 42.2% TOTAL WORLD 43,371 44,787 44,613 46,752 49,29 51,182 52,561 55,554 54, % 1.% Exports U.S ,129 1,317 1,439 1, % 3.6% Canada 1,73 1,84 1,959 2,96 2,148 2,1 2,33 2,457 2, % 4.6% Mexico 1,814 1,882 1,966 2,115 2,7 2,65 2,12 1,975 1, % 2.9% Central, South America 3,79 3,143 2,965 2,942 3,233 3,528 3,681 3,57 3, % 6.6% Europe 1,967 1,947 2,234 2,66 1,993 2,149 2,173 2,273 2,23 11.% 3.7% Former Soviet Union 4,273 4,679 5,37 6,3 6,44 7,76 7,155 8,334 8, % 15.% Middle East 18,944 19,98 18,62 18,943 19,63 19,821,4 19,68, % 36.8% North Africa 2,732 2,724 2,6 2,715 2,917 3,7 3,225 3,336 3,26 2.3% 6.% West Africa 3,293 3,182 3,134 3,612 4,48 4,358 4,74 4,83 4,587 5.% 8.4% Asia Pacific * 3 3 3,736 3,914 3,848 3,978 4,189 4,243 4,312 6,4 5, % 9.9% Rest of World * ,56 1,551 1,361 1,631 1,542 1,359 1,656 1, % 2.5% TOTAL WORLD 43,371 44,789 44,613 46,752 49,29 51,182 52,561 55,554 54, % 1.% 7 Total 1,258. Billion bbl 59.9% 11.3% RP ratio (years) % Total 6,534. * Compiled data, using a combination of primary official sources and third-party data.* 3 Trillion cf cf 34.% RP ratio (years) 6.4 *1. Annual changes and shares of total are calculated using thousand barrels daily figures. *1. *2. Includes unidentified trade. *2. *3. Excludes Japan. Excludes Trade between other Asia Pacific countries and India prior to 7 *3. 7 Source: BP BP Statistical Review of World Energy 9 Volume of global trade 8 (LNG) LNG8 : BP BP Statistical Review of World Energy 9 Billion m 3 m 3 From Export countries World oil and gas production (Thousand bbl/day) () 1, 8, 6, 4,, 8,256 81,89 81,497 81,443 81,8 72,325 74,861 74,794 74,431 76,99 3,65.6 2,33.9 2, , , , , , , , (Billion bbl) 5 Source: BP BP Statistical Review of World Energy Natural gas (Trillion cf) cf N North America N Central, South America N Europe, Eurasia ,2.8 N Middle East ,68.9 N Africa N Asia Pacific Total 1,258. 6,534. Source: BP BP Statistical Review of World Energy 9 : BP BP Statistical Review of World Energy 9 Left scale Natural gas Right scale 8 (Billion m 3 ) ( ) 4, 3, 2, 1, : BP BP Statistical Review of World Energy 9 To Import countries U.S. Trinidad & Tobago Belgium Norway Oman Qatar UAE Algeria Egypt Equatorial Guinea Libya Nigeria Australia Brunei Indonesia Malaysia Total imports North America U.S Mexico South and Central America Argentina Dominican Republic Puerto Rico Europe Belgium France Greece Italy Portugal Spain Turkey United Kingdom Asia Pacific China India Japan South Korea Taiwan Total Exports Source: BP BP Statistical Review of World Energy 9 : BP BP Statistical Review of World Energy 9

6 MARKET DATA Market Data (Japan) and natural gas production (Japan) (Thousand kl) ( ) 1, , , , , , , , , , ,729 (Million m 3 ) ( 3 ) 4, 3, imports in Japan by supply country (Thousand kl) ( ) 3, 25,, 254, ,53 254,64 239, , , ,85 249,1 238, ,29 MARKET DATA 2, 15, 4 1, 1, 5, Thousand kl kl N Thousand bbl/day N Natural gas Million m3 m 3 2,297 2,313 2,499 2,466 2,752 2,814 2,957 3,14 3,48 3,729 Thousand BOE/day Sources: Handbook of Energy and Economics Statistics in Japan 9 9 Thousand kl kl Saudi Arabia 52,148 48,359 54,898 53,365 54,228 55,74 63,38 72,789 69,149 66,873 UAE 71,91 6,475 65,112 57, 55,496 59,479 6,456 61,89 62,496 57,678 Iran 28,694 28,56 29,229 29,874 33,418 39,57 36,382 32,425 26,889 29,546 Iraq 1,158 6,116 3, ,312 3,636 1,742 2,259 2,161 Kuwait 14,439 14,694 18,839 17,219 16,81 18,2 17,887 17,872 16,874 16,677 Neutral zone* 13,66 13,346 13,843 12,433 9,527 8,81 5,64 4,952 5,24 4,541 Other Middle East 37,893 38,623 36,345 4,157 36,341 31,63 28,959 3,97 29,315 31,748 Indonesia 14,46 14,171 12,255 1,391 9,716 8,871 7,893 7,646 6,66 7,858 Other Southeast Asia 7,371 7,61 6,865 6,232 5,168 4,881 4,15 4,494 3,343 4,87 Others 13,421 16,586 13,632 12,323,747 14,457 13,558 15,94 16,479,139 Total imports 254, ,53 254,64 239, , , ,85 249,1 238, ,29 MMbbl/day * Saudi-Kuwaiti neutral zone Sources: Handbook of Energy and Economics Statistics in Japan 9 9 Primary energy supply (Japan) Petroleum product demand by sector (Japan) (1 1 kcal) 6, 5, 544, , , , , , ,73 563,44 56,243 56,728 (Million tons) () , 15 3,, 1 1, kcal Renewables etc. 7,142 7,257 7,333 7,15 7,26 7,483 7,31 7,317 7,338 7,311 Nuclear power 74,777 71,239 69,241 68,77 63,445 51,63 6,725 64,139 63,859 55,526 Hydroelectricity 21,447 19,87 19,253 18,674 18,367 21,248,964 17,31 19,426 16,522 66,995 69,749 73,398 72,2 74,321 78,964 78,427 78,86 86,119 92, , ,36 289,4 271, , ,3 275, , , ,136 Coal 89,278 95,322 1,222 12,9 17,86 11,875 1,52 114, ,189 1,265 Total 544, , , , , , ,73 563,44 56,243 56,728 Sources: Handbook of Energy and Economics Statistics in Japan 9 9 Million tons Electric power Non-energy* * Transportation Private Industrial (Manufacturing) Industrial (Nonmanufacturing) Demand total * Grease, Paraffin, Asphalt and Lubricant * Sources: Handbook of Energy and Economics Statistics in Japan 9 9

7 MARKET DATA LNG imports in Japan by supply country LNG (Thousand tons) ( ) 8, 6, 4, 49,478 52,112 54,157 54,421 55,18 58,538 58,18 57,917 63,39 68,36 Break down of city gas production, purchases in Japan by raw material source (1 9 kcal) 5, 4, 279,5 289,791 3, 231,14 244,6 253, ,426 37, ,14 348, ,986 MARKET DATA,, 1, Thousand tons Equatorial Guinea 561 Norway 61 Egypt ,627 Nigeria , Trinidad And Tobago Oman ,656 1,14 1,11 2,864 3,699 Qatar 3,31 4,94 6, 6,386 6,64 6,68 6,762 6,396 7,77 8,129 Algeria Australia 7,235 7,247 7,211 7,489 7,212 7,644 8,612 1,456 12,66 11,816 Malaysia 9,789 1,231 1,923 11,296 1,881 12,219 13,154 13,136 12,2 13,252 Indonesia 17,987 18,232 18,123 16,444 17,522 17,49 15,545 13,813 13,951 13,65 UAE 4,523 4,69 4,82 4,853 4,633 5,256 5,17 5,371 5,262 5,571 Brunei 5,33 5,582 5,715 6,4 6,11 6,367 6,357 6,165 6,393 6,641 U.S. 1,34 1,189 1,26 1,266 1,253 1,242 1,21 1,25 1, Total Imports 49,478 52,112 54,157 54,421 55,18 58,538 58,18 57,917 63,39 68, kcal Others Natural gas 12,919 13,71 14,581 14,88 16,191 17,416 18,33,455 23,299 29,515 LNG LNG 185, ,712 6, ,3 234, , ,43 293, , ,13 Coal-based gas 2, 2,325 2,287 1,855 1,882 1, based gas 3,76 31,35 3,13 27,552 26,493 22,388,862 18,333 12,413 12,195 Total 231,14 244,6 253, , ,5 289,791 37, ,14 348, ,986 Sources: Handbook of Energy and Economics Statistics in Japan Sources: Handbook of Energy and Economics Statistics in Japan 9 9 LNG consumption by sector (Japan) sales volume by sector (Japan) LNG (Thousand tons) ( ) (1 9 kcal) 8, 6, 49,793 51,911 54,5 N.A. N.A. N.A. N.A. N.A. N.A. N.A. 4, 3, 226, ,511 25, ,56 274, ,146 31, , , ,956 4,,, 1, Thousand tons Industrial fuels N.A. N.A. N.A. N.A. N.A. N.A. N.A. City gas 14,1 14,85 15,989 15,84 16,647 17,625 18,878,539 23,288 24,696 Electric power 35,26 36,392 37,844 38,175 37,914 39,63 37,17 34,64 38,177 42,15 Total 49,793 51,911 54,5 N.A. N.A. N.A. N.A. N.A. N.A. N.A. Imports 49,478 52,112 54,157 54,421 55,18 58,538 58,18 57,917 63,39 68,36 Sources: Handbook of Energy and Economics Statistics in Japan kcal Others 17,615 19,395 21,6 21,834 23,924 24,494 26,784 28,589 27,61 29,266 Industrial 81,557 88,699 93,443 97,626 11,229 1,33 132, ,88 164, ,522 Commercial 37,29 38,634 4,612 41,42 43,458 44,285 47,115 48,919 47,854 49,443 Residential 9,313 92,783 94,912 93,554 96,727 97,64 94,631 99,275 97,65 98,724 Total 226, ,511 25, ,56 274, ,146 31, , , ,956 Sources: Handbook of Energy and Economics Statistics in Japan 9 9

8 OPERATING DATA OPERATING DATA I I Global E&P Reserve replacement ratio* (6 8 Average) 3 1 (MM BOE) 22, 12, 11, 1, 9, 8, 7, 6, 5, 4, 3, 2, 1, 278 Woodside (AU) Apache (US) BG (UK) Occidental (US) ConocoPhillips (US) * Exxon Mobil (US) BP (UK) ENI (IT) PTTEP (TH) Shell (UK) Source: Most recent publicly available information Note: * Proved reserves increase including acquisition divided by Production. Reserves and production volumes attributable to the equity method affiliates are included. Reserves data as of December 31, 8, except for INPEX (as of March 31, 9) Production data for the year ended December 31, 8, except for INPEX (for the year ended March 31, 9) Proved reserves* * Exxon Mobil (US) 21,115 18,147 BP (UK) 11,196 1,678 1,458 9,975 Chevron (US) Shell (UK) Total (FR) ConocoPhillips (US) 6,6 ENI (IT) 5,584 StatoilHydro (NO) 2,977 Occidental (US) Anadarko (US) Talisman (CA) 2,439 2,41 2,277 BG (UK) Apache (US) Source: Most recent publicly available information Note: * Reserve Data as of December 31, 8, except for INPEX as of March 31, 9 and BHP Billion as of June, 8 in accordance with SEC regulations. Our reserves that are under the process of government approval for interests transfer and assets DeGolyer and MacNaughton did not evaluate are not included. Amounts attributable to the equity method affiliates are included. Government owned companies are not shown. Production volume* * (Thousand BOE/day) 4,5 2,5 1,4 1, 1, ,921 Exxon Mobil (US) 3,818 BP (UK) 3,121 Shell (UK) Chevron (US) 2,53 2,341 Total (FR) 2,212 ConocoPhillips (US) 1,797 1,751 ENI (IT) StatoilHydro (NO) BG (UK) Occidental (US) Source: Most recent publicly available information Note: * Production data for the year ended December 31, 8, except for INPEX (for the year ended March 31, 9) and BHP Billion (for the year ended June 3, 8). Production figures are in accordance with SEC regulations. Productions from our projects that are under the process of government approval for interests transfer are not included. Amounts attributable to the equity method are included. Government owned companies are not included. Anadarko (US) StatoilHydro (NO) Total (FR) Chevron (US) 61 INPEX 61 LUKOIL (RU) * Anadarko (US) Natural gas /Condensate/LPG LPG 1,598 1,432 1,375 1,328 1,7 1,195 INPEX Hess (US) BHP Billiton (AU) Woodside (AU) Talisman (CA) Marathon (US) * BHP Billiton 8 6 SEC DeGolyer & MacNaughton Apache (US) Natural gas Condensate LPG LPG INPEX Hess (US) BHP Billiton (AU) Talisman (CA) Marathon (US) 223 Woodside (AU) * BHP Billiton 8 6 SEC Outline of projects in production Japan Indonesia Australia The Timor Sea Joint Petroleum Development Area (JPDA)* 2 * 2 Azerbaijan UAE Field / Project name Minami-Nagaoka, etc. Mahakam/Attaka Offshore Nothwest Java Offshore Southeast Sumatra South Natuna Sea Block B B WA-1-L (Grifin) WA-1-L JPDA3-12 (Bayu-Undan) JPDA3-12 ACG ACG ADMA ADMA ABK ABK Contract type Concession agreement Production sharing contract Production sharing contract Production sharing contract Production sharing contract Concession agreement Production sharing contract Production sharing contract Concession agreement Concession agreement Contract duration Unlimited December 31, January 18, September 5, October 15, February 18, February 6, December 11, Mach 8, 18 (Upper Zakum field March 8, 26) March 8, LPG production* 1 production* 1 (Thousand bbl/day) (Thousand bbl/day) * 1 Nondisclosure Nondisclosure LPG * 1 production* 1 (MMcf/day) * 1 cf , Iran Egypt D.R. Congo Angola Algeria Canada U.S. Ecuador Venezuela Soroosh and Nowrooz West Bakr Offshore D.R. Congo 3/5 3/85 3/91 Ohanet Joslyn Oil Sands Project* 3 * 3 Ship Shoal 72, Main Pass 118, West Cameron 41/42 Louisiana SL SL Block 18 Copa Macoya/ Guarico Oriental *1 All field base and average of the year ended March 31, 9, except Ecuador, which is the average since the acquisition of the interest on October 27, 8. *2 East Timor and Australia *3 SAGD technology: Suspended production Mining technology: Preparation for deveropment Service contract Production sharing contract Concession agreement Production sharing contract Production sharing contract Production sharing contract Risk service contract Concession agreement Concession agreement Concession agreement Joint venture agreement August 31, April 19,.4.19 November 21, June 3, Cobo December 21, 1 Pambi 3/85 July 9, / December 11, October 27, T24 Unlimited November 3, 19* July 4, * *With an option for extension 7286T * * Unlimited December 31, March 31, N/A , Nondisclosure Nondisclosure Nondisclosure Nondisclosure * *2 *3 SAGD OPERATING DATA I I

9 INDEX DATA Profitability Indices (Consolidated) INDEX DATA INPEX CORPORATION* (Consolidated) * million Years ended March Net sales 969,712 1,2,965 1,76,164 sales 67,4 783,465 65,352 Natural gas sales (Including LPG) LPG 332, ,9 398,266 Other sales 29,375 28,49 27,545 Cost of sales 343,794 39, ,38 Gross profit 625, ,41 757,126 Operating income 559,77 714, ,266 Net income 165,91 173, ,62 EBIDAX (Earning Before Interest, Depreciation and Amortization, and Exploration) 321, , ,865 Gross margin 64.5% 67.5% 7.4% Operating margin 57.7% 59.4% 61.6% Net margin 17.% 14.4% 13.5% Net sales ( million ) 1,5, 1,, 9, 6, 3, 969,712 29, ,937 67,4 1,2,965 28,49 391,9 783,465 7/3 8/3 1,76,164 27, ,266 65,352 9/3 Other sales Natural gas sales (Including LPG) LPG sales Cost of sales ( million ) 5, 4, 39, , ,38 3,, 1, 7/3 8/3 9/3 Gross profit, Gross margin ( million ) 1,, 812,41 8, 757, ,918 6, 7.4% 67.5% 4, 64.5%, 7/3 8/3 9/3 Gross profit Gross margin INDEX DATA * Former INPEX Holdings Inc. Operating income, Operating margin Net income, Net margin EBIDAX ( million ) ( million ) ( million ) INPEX CORPORATION (Consolidated) million Years ended March Net sales 184,3 1, , ,586 74,234 sales 65,461 69,333 68, , ,691 Natural gas sales (Including LPG) LPG 118, , 15,47 185, ,543 Cost of sales 79,1 95,997 15, ,94 257,93 Gross profit 15,83 15, ,72 281, ,33 Operating income 97,49 97,27 93, , ,65 Net income 27,65 27,911 34,781 76,493 13,476 EBIDAX (Earning Before Interest, Depreciation and Amortization, and Exploration) 51,194 61,818 76,14 125, ,558 Gross margin 57.% 52.4% 51.7% 58.8% 63.4% Operating margin 52.7% 48.3% 42.9% 56.1% 6.6% Net margin 15.% 13.8% 15.9% 16.% 14.7% 8, 714, ,266 6, 559,77 4, 61.6% 59.4% 57.7%, 7/3 8/3 9/3 Operating income Operating margin , 15, 1, 5, Net Income Net margin 165,91 173, ,62 17.% 14.4% 13.5% 7/3 8/3 9/ , 3,, 1, 382, , ,865 7/3 8/3 9/3 Teikoku Oil Co., Ltd. (Consolidated) million Years ended December Net sales 75,767 73,63 78,498 84,32 1,716 sales 6,19 5,13 6,455 1,219 17,72 Natural gas sales (Including LPG) LPG 33,378 31,881 35,223 36,492 4,285 Other sales 36,197 36,735 36,819 37,3 42,728 Cost of sales 45,36 44,931 47,62 48,455 55,473 Gross profit 3,73 28,699 31,436 35,576 45,243 Operating income 11,864 7,296 8,739 13,533 21,77 Net income 5,74 5,233 6,796 9,276 15,485 EBIDAX (Earning Before Interest, Depreciation and Amortization, and Exploration) 15,145 18,234 21,786 24,95 31,691 Gross margin 4.6% 39.% 4.% 42.3% 44.9% Operating margin 15.7% 9.9% 11.1% 16.1%.9% Net margin 7.5% 7.1% 8.7% 11.% 15.4% EBIDAX = Net income + Minority interests + Deferred tax + (1 Tax rate) x (Interest expense Interest income) + Exchange profit and loss + Depreciation and amortization + Amortization of goodwill + Amortization of exploration and development right + Recovery of recoverable accounts under production sharing (Capital expenditure) + Exploration expenses + Provision for allowance for recoverable accounts under production sharing. Gross margin=gross profit / Net sales Operating margin=operating income / Net sales Net margin = Net income / Net sales = = =

10 Efficiency Indices (Consolidated) INDEX DATA INPEX CORPORATION* (Consolidated) * Years ended March Total asset turnover (Times) Net asset turnover (Times) Total asset turnover (Times ) 1. Net asset turnover (Times ) 1.5 Return on equity (ROE) ROE 25 INDEX DATA Return on equity (ROE) ROE 17.7% 15.8% 11.9%.8 Net ROACE (Return on Average Capital Employed).4% 21.4% 14.6% Return on assets (ROA) ROA 1.9% 1.1% 8.1% * Former INPEX Holdings Inc % % 15.8% 11.9%.2 5 INPEX CORPORATION (Consolidated) 7/3 8/3 9/3 7/3 8/3 9/3 7/3 8/3 9/3 Years ended March Total asset turnover (Times) Net asset turnover (Times) Return on equity (ROE) ROE 11.5% 13.1% 22.2% 22.6% Net ROACE (Return on Average Capital Employed) 13.% 13.9%.2% 24.6% Return on assets (ROA) ROA 8.9% 8.1% 11.7% 11.8% Net ROACE Return on assets (ROA) ROA Teikoku Oil Co., Ltd. (Consolidated) Years ended December Total asset turnover (Times) Net asset turnover (Times) Return on equity (ROE) ROE 4.37% 3.87% 4.65% 5.75% 8.53% Net ROACE (Return on Average Capital Employed) 5.27% 4.58% 5.29% 6.43% 8.99% Return on assets (ROA) ROA 2.96% 2.58% 3.16% 3.97% 5.8% % 21.4% 14.6% % 1.1% 8.1% 7/3 8/3 9/3 7/3 8/3 9/3 Total asset turnover = Net sales / Average of total assets at the beginning and end of the fiscal year Net asset turnover = Net sales / Average of net assets at the beginning and end of the fiscal year ROE = Net income / Average of net assets excluding Minority interests at the beginning and end of the fiscal year Net ROACE = (Net income + Minority interests + (Interest expense Interest income) (1 Tax rate)) / (Average of sum of Net assets and Net debt* at the beginning and end of the fiscal year) ROA = Net Income / Average of total assets at the beginning and end of the fiscal year *See page 21 = = ROE = - = ++ 1 ROA = P21

11 Productivity Indices (Consolidated) INDEX DATA INPEX CORPORATION* (Consolidated) * million Years ended March Number of employees (End of fiscal year) 1,672 1,724 1,814 Net sales per employee Operating income per employee Ordinary income per employee Number of employees (End of fiscal year) (Employees ) 2, 1,814 1,724 1,672 1,5 Net sales per employee ( million ) Operating income per employee ( million ) INDEX DATA Net income per employee , 4 * Former INPEX Holdings Inc. 5 1 INPEX CORPORATION (Consolidated) million 7/3 8/3 9/3 7/3 8/3 9/3 7/3 8/3 9/3 Years ended March Number of employees (End of fiscal year) Net sales per employee ,397 1,774 Operating income per employee ,75 Ordinary income per employee ,16 Net income per employee Ordinary income per employee ( million ) 5 Net income per employee ( million ) 1 18 Teikoku Oil Co., Ltd. (Consolidated) million Years ended December Number of employees (End of fiscal year) 1,189 1,153 1,125 1,331 1,293 6 Net sales per employee Operating income per employee Ordinary income per employee Net income per employee /3 8/3 9/3 7/3 8/3 9/3 Net sales per employee = Net sales / Average number of employees at the beginning and end of the fiscal year Operating income per employee = Operating income / Average number of employees at the beginning and end of the fiscal year Ordinary income per employee = Ordinary income / Average number of employees at the beginning and end of the fiscal year Net income per employee = Net income / Average number of employees at the beginning and end of the fiscal year = = = =

12 Stability Indices (Consolidated) INDEX DATA INPEX CORPORATION* (Consolidated) * million Years ended March Total assets 1,68,16 1,87,9 1,768,44 Net assets excluding minority Interests 1,28,894 1,157,37 1,271,122 Interest-bearing debt 248, ,87 164,246 Net debt 169, , ,18 Equity ratio 64.% 64.% 71.9% Current ratio 178% 174% % Fixed ratio 11% 17% 17% D/E ratio 24.2% 16.8% 12.9% Interest-bearing debt/total capital employed 18.7% 13.5% 1.8% Total assets ( million ) 2,, 1,5, 1,, 5, 1,68,16 1,87,9 1,768,44 Net assets excluding minority interests, Equity ratio ( million ) 1,5, 1,, 9, 6, 3, 1,28, ,271,122 1,157, Interest-bearing debt, D/E ratio ( million ) 3,, 1, 248, , , INDEX DATA Net debt/total capital employed (Net) 18.6% 36.1% 31.2% * Former INPEX Holdings Inc. 7/3 8/3 9/3 7/3 8/3 9/3 7/3 8/3 9/3 INPEX CORPORATION (Consolidated) million Years ended March Total assets 287, , , , ,437 Current ratio Fixed ratio Net debt, Net debt/total capital employed (Net) Shareholders equity 23, , , ,295 54,998 ( million ) Interest-bearing debt 31,169 46, , ,865 2, , 1 Net debt 14,9 19,691 42,297 52,482 89,97 Equity ratio 8% 75% 53% 53% 52% Current ratio 559% 437% 37% 194% 143% Fixed ratio 82% 87% 15% 131% 142% D/E ratio 13.5% 18.5% 6.9% 43.2% 43.6% Interest-bearing debt/ Total capital employed 11.9% 15.6% 35.3% 28.5% 28.9% Net debt/total capital employed (Net) 82.8% 75.8% 12.% 13.3% 19.6% 1 178% 174% % % 17% 17% 1,, 3, 4, 169, , , % 36.1% 31.2% Teikoku Oil Co., Ltd. (Consolidated) million Years ended December Total assets 2,369 3, ,28 24, ,767 Shareholders equity 134,37 135, , , ,216 Interest-bearing debt 23,59 25,63 21,735 17,935 29,22 Net debt 16,663 8,267 8,828 2,19 5,387 Equity ratio 66% 67% 69% 69% 67% Current ratio 249% 199% 243% 166% 2% Fixed ratio 16% 115% 113% 117% 119% D/E ratio 17.5% 18.8% 13.9% 1.8% 14.7% Interest-bearing debt/ Total capital employed 14.6% 15.6% 12.% 9.6% 12.7% Net debt/total capital employed (Net) 15.% 2.3% 9.1% 5.5% 1.% 7/3 8/3 9/3 Net assets excluding Minority interests = Net assets Minority interests Interest-bearing debt = Short-term borrowings + Long-term debt Net debt = Interest-bearing debt Cash and deposits Public and corporate bonds and other debt securities (with determinable value) MMF, Short-term bonds with repurchase agreements and Certificate of deposit) Equity ratio = (Net assets Minority interests) / Total assets Current ratio = Current asset / Current liabilities Fixed ratio = Fixed assets / (Net assets Minority interests) D/E Ratio = Interest-bearing debt / (Net assets Minority interests) Interest-bearing debt / Total capital employed = Interest-bearing debt / (Net assets +Interest-bearing debt) Net debt / Total capital employed (Net) = Net debt / (Net assets + Interest-bearing debt Cash and deposits Public and corporate bonds and other debt securities (with determinable value) MMF, Short-term bonds with repurchase agreements and Certificate of deposit) 7/3 8/3 9/3 5, 7/3 8/3 9/3 = = = MMF = = = = =+ = MMF MMF 5

13 Performance Indices (Consolidated) INDEX DATA INPEX CORPORATION* (Consolidated) * Years ended March Earnings per share (EPS) EPS 7, , ,61.6 Net assets excluding minority Interests per share 436, , ,1.1 Cash flow per share 98, ,447 97,8 Annual cash dividends per share 7, 7,5 8, Price earnings ratio (PER) PER Price book-value ratio (PBR) PBR Price cash flow ratio (PCFR) PCFR Payout ratio 9.9% 1.2% 13.% Yen Earnings per share (EPS) EPS (Yen ) 1, 8, 6, 4,, 7, , ,61.6 Annual cash dividends per share (Yen ) 1, 8, 6, 4, 2, 7, 7,5 8, Price earnings ratio (PER) PER (Times ) INDEX DATA * Former INPEX Holdings Inc. 7/3 8/3 9/3 7/3 8/3 9/3 7/3 8/3 9/3 INPEX CORPORATION (Consolidated) Yen Years ended March Earnings per share (EPS) EPS 46, (15,617.64)* 47, (15,726.17)* 58, (19,612.92)* 4, , Price book value ratio (PBR) PBR Price cash flow ratio (PCFR) PCFR Payout ratio Book-value per share (BPS) BPS 391,76.56 (13,586.85)* 43, (143,389.73)* 471,826. (157,275.33)* 214, , (Times ) (Times ) 22 Cash flow per share Annual cash dividends per share 87,967 (29,322)* 1, (3,333)* 87,37 (29,12)* 1, (3,333)* 75,465 (25,155)* 1, (3,333)* 69, ,676 4, 5,5 Price earnings ratio (PER) PER Price book-value ratio (PBR) PBR Price cash flow ratio (PCFR) PCFR Payout ratio 21.3% 21.2% 17.% 9.9% 1.2% * Adjusted for a three for one stock split in May % 1.2% 13.% 23 Teikoku Oil Co., Ltd. (Consolidated) Yen Years ended December Earnings per share (EPS) EPS Book-value per share (BPS) BPS Cash flow per share Annual cash dividends per share Price earnings ratio (PER) PER Price book-value ratio (PBR) PBR Price cash flow ratio (PCFR) PCFR Payout ratio 37.6% 35.1% 27.2% 24.8% 17.8% 7/3 8/3 9/3 EPS = Net Income/Average number of shares issued and outstanding during the year Net Assets excluding Minority Interests per Share = (Net Assets - Minority Interests) / Average number of shares issued and outstanding during the year Cash Flow per Share = Cash flow from operating activities / Average number of shares issued and outstanding during the fiscal year <Teikoku Oil> ( Net income + Depreciation and amortization) / Average number of shares issued and outstanding during the fiscal year PER = Stock price (end of fiscal year) / EPS PBR = Stock price (end of fiscal year) / EPS PCFR = Stock price (end of fiscal year) / Cash Flow per Share Payout Ratio = Annual Dividends per Share / EPS 7/3 8/3 9/3 = = 7/3 8/3 9/3 = = = = =

14 Reserves/Production Indices (Consolidated) INDEX DATA INPEX CORPORATION* (Consolidated) * Years ended March Net proved reserves (MM boe) 1,77 1,645 1,598 Net probable reserves (MM boe) 1,959 2,721 3,176 Net production (Thousand boe/day) Reserves to production ratio (Years) Proved reserves Proved reserves + Probable reserves Reserve replacement ratio (3-year average, %)* 3 3% * 3 293% 122% 61% Average expenses per boe produced (U.S.$)* 2 1* 2 Production cost Production cost (Excluding royalty) Selling, general and administrative expenses Finding and development cost per boe 1 (3-year average U.S.$)* 2, 3 3 * Exploration success ratio (3-year average, %) 3% 32.8% 57.9% 56.3% *1 Former INPEX Holdings Inc. *2 Figures are translated into U.S.dollars based on the average exchange rate of the relevant fiscal year. In the fiscal years ended March 31, 7, 8 and 9 the average exchange rates were , and 1.85 respectively. *3 Lower reserve replacement ratio and higher costs in 9 resulted from no substantial addition to the proved reserves and increased exploration and development expenditures during the term. *1 * *3 9 3 Net proved reserves, Net probable reserves (MM boe ) 5, 4, 3, 2, 1, 3,728 1,959 1,77 4,366 2,721 3,176 1,645 4,774 1,598 7/3 8/3 9/3 Net probable reserves Net proved reserves Reserve to production ratio (Proved reserves, Proved + probable reserves) + (Years ) Proved + probable reserves Proved reserves /3 8/3 9/3 Reserve replacement ratio (3-year average) % 122% 61% 7/3 8/3 9/3 INDEX DATA INPEX CORPORATION (Consolidated) Years ended March Net proved reserves (MM boe) ,545 1,571 Net probable reserves (MM boe) 1,543 2,25 1,827 Net production (Thousand boe/day) Reserves to production ratio (Years) Proved reserves Proved reserves + Probable reserves Reserve replacement ratio (3-year average %) 3% 17% 397% 368% Average expenses per boe produced (U.S.$)* 1* Production cost Selling, general and administrative expenses Finding and development cost per boe 1 (3-year average U.S.$)* 3 * Exploration success ratio (3-year average %) 3% 59.7% 6.8% 51.3% * Figures are translated into U.S.dollars based on the average exchange rate of the relevant fiscal year. In the fiscal years ended March 31, 4, 5 and 6, the average exchange rates were , and , respectively. * Average expenses per boe produced (Production cost, General and administrative expenses) 1 (U.S.$ ) /3 8/3 9/3 Production cost General and administrative expenses Finding and development cost per boe (3-year average) 13 (U.S.$ ) /3 8/3 9/3 Exploration success ratio (3-year average) % 57.9% 56.3% 7/3 8/3 9/3 Teikoku Oil Co., Ltd. (Consolidated) Years ended December Net proved reserves (MM boe) 4 Net probable reserves (MM boe) 54 Net production (Thousand boe/day) 43 Reserves to production ratio (Years) Proved reserves 12.8 Proved reserves + Probable reserves 16.2 Reserve replacement ratio (3-year average %) Average expenses per boe produced (U.S.$)* 3% 1* Production cost 7.6 Selling, general and administrative expenses 6.9 Finding and development cost per boe (3-year average U.S.$)* 1 3 * Exploration success ratio (3-year average %) 3% * Figures are translated into U.S.dollars based on the average exchange rate of the relevant fiscal year. In the fiscal year ended December 31, 5, the average exchange rate was * Note: 1. Proved reserves and production volumes are calculated in accordance with U.S. Security Exchange Commission (SEC) rules. 2. Probable reserves as of March 31, 8 and 9 are calculated in accordance with SPE/WPC/AAPG/SPEE guideline (SPE PRMS) approved in March 7. The volumes are sum of proved reserves and probable reserves by SPE PRMS after deduction of proved reserves by SEC rules. The other probable reserves are based on guideline established by SPE and WPC (1997 SPE/WPC). 3. Proved reserves and probable reserves are based on the reserves report by DeGolyer and MacNaughton. Reserve volumes of Joslyn oil sand project (mining) are based on the evaluation by RYDER SCOTT. 1. SEC SPE WPC AAPG SPEE 7 3 SPE PRMSSEC SPEWPC 1997 SPE WPC 3. DeGolyer & MacNaughton RYDER SCOTT Reserves to production ratio (Years) = Reserves as of the end of the fiscal year / Production in the fiscal year Reserve replacement ratio = Proved reserves increase including acquisition / production Finding and development cost per boe = The sum of total costs incurred, for exploration and development of oil and gas fields and total costs incurred for acquisitions divided by the sum of proved reserve extensions, acquisitions and revisions. = 1 =

15 OPERATING DATA OPERATING DATA Oil and Reseves Americas Proved reserves (9) Interest in Reserves Held by Equity-Method Affiliates 22.3%.5% 9 1.7% 1, % MMbbl 43.6%.1% Japan Asia/Oceania Eurasia (Europe/NIS) NIS Middle East/Africa Interest in Reserves Held by Equity-Method Affiliates Americas Proved reserves (9) 4.8% % 3,3 Bcf cf 55 MMboe 58.3% 21.6% Japan Asia/Oceania Proved reserves (MMbbl) (Bcf) cf Japan Asia/Oceania Eurasia (Europe/NIS) NIS Middle East/ Africa Americas Subtotal Interest in Reserves Held by Equity- Method Affiliates As of March 31, 6* * , , ,9 4,19 Extensions and discoveries Acquisitions and sales Revisions of previous estimates Interim production As of March 31, , , ,139 3,782 Extensions and discoveries Acquisitions and sales Revisions of previous estimates Interim production As of March 31, , , ,88 3,346 Extensions and discoveries 2 1 Acquisitions and sales Revisions of previous estimates Interim production As of March 31, , , ,48 3,3 Proved developed reserves* * (MMbbl) (Bcf) cf Japan Asia/Oceania Eurasia (Europe/NIS) NIS Middle East/ Africa Americas Subtotal Interest in Reserves Held by Equity- Method Affiliates As of March 31, 6* * , , ,38 As of March 31, , , ,134 As of March 31, , , ,7 As of March 31, , ,799 *The amount of proved reserves expected to be recovered though exiting wells with existing equipment and operating methods. Total Total Probable reserves (MMbbl) (Bcf) cf Japan Asia/Oceania Eurasia (Europe/NIS) NIS Middle East/ Africa Americas Subtotal Interest in Reserves Held by Equity- Method Affiliates As of March 31, 6* * , ,37 2, ,493 2,324 As of March 31, , , ,61 2,95 As of March 31, , ,1 8, ,274 8,682 As of March 31, , ,487 9, ,63 9,442 * The figures as of March 31, 6 in the tables assume that integration of INPEX and Teikoku Oil took place in the year ended March 31, 5. includes condensate and LPG. * LPG Total Standardized measure of discounted future net cash flows relating to proved reserves As of March 31, Consolidated subsidiaries Total Japan Asia/ Oceania Eurasia (Europe/NIS) NIS Middle East/ Africa Future cash inflows 8,54, ,449 2,645,392 1,444,92 3,612,733 22,81 Future production and development costs 2,586, , , ,72 1,141,377 12,964 Future income tax expenses 3,43, , ,81 232,138 2,38,577 2,823 Future net cash flows 2,523,63 549,251 1,16, , ,779 7,23 1% annual discount for estimated timing of cash flows Standardized measure of discounted future net cash flows Share of equity method investees standardized measure of discounted future net cash flows Americas 1% 1,239,469 35,57 386,7 45, 95,95 1,65 1,283, ,744 63, ,492 66,874 5,373 63,534 37,916 22,981 2,637 As of March 31, Consolidated subsidiaries Future cash inflows 1,784,73 879,942 3,55,125 2,3,128 4,792,848 26,3 Future production and development costs 2,693, , , ,55 1,279,92,894 Future income tax expenses 4,882,34 145,218 1,11, ,543 3,339,299 1,912 Future net cash flows 3,7,915 58,77 1,292,239 1,158,35 173,647 3,224 1% annual discount for estimated timing of cash flows 1% 1,583,464 31, , ,939 82,64 1,181 Standardized measure of discounted future net cash flows Share of equity method investees standardized measure of discounted future net cash flows As of March 31, ,624,451 27, , ,96 91,43 2,43 77,355 43,219 18,68 15,456 Consolidated subsidiaries Future cash inflows 5,89, ,124 1,547, ,338 2,34,41 52,854 Future production and development costs 2,179, ,3 76, , ,844 29,439 Future income tax expenses 1,74, , ,36 89,52 1,98,893 6,493 Future net cash flows 1,4, , , ,711 58,664 16,922 1% annual discount for estimated timing of cash flows 1% 617, , , ,198 48,74 3,596 Standardized measure of discounted future net cash flows Share of equity method investees standardized measure of discounted future net cash flows million 586, , ,745 59,513 9,96 13, ,275 12,888 13, * The exchange rates as of March 31, 7, 8 and 9 were the TTM rate of 118.9, 1. and per U.S.$ respectively. * Note: 1. Disclosure items of proved reserves are based on the U.S. Statement of Financial Accounting Standards No Proved reserves and production volumes are calculated in accordance with U.S. Security Exchange Commission (SEC) rules. 3. Probable reserves as of March 31, 8 and March 31, 9 are calculated in accordance with SPE/WPC/AAPG/SPEE guideline (SPE PRMS) approved in March 7. The volumes are sum of proved reserves and probable reserves by SPE PRMS after deduction of proved reserves by SEC rules. The other probable reserves are based on guideline established by SPE and WPC (1997 SPE/WPC). 4. Proved reserves and probable reserves are based on the reserves report by DeGolyer and MacNaughton. Reserve volumes of Joslyn oil sand project (mining) are based on the evaluation by RYDER SCOTT. 5. The figures in these tables include minority interests. 1. Statement of Financial Accounting Standards No SEC SPE WPC AAPG SPEE 7 3 SPE PRMSSEC SPEWPC 1997 SPE WPC 4. DeGolyer & MacNaughton RYDER SCOTT 5. OPERATING DATA

16 OPERATING DATA Change in the standardized measure of discounted future net cash flows relating to proved reserves Consolidated subsidiaries Standardized measure, beginning of period (As of April 1, 6) Changes resulting from: Sales and transfers of oil and gas produced, net of production costs Net change in prices, and gas production costs Total Japan Asia/Oceania Eurasia (Europe/NIS) NIS Middle East/ Africa Americas ,27, ,76 639,933 36,24 69,84 7,232 million 49,262 6,439 39,664 11,75 4, ,89 28,61 112,953 37,547 96, Development cost incurred 142,896 6,394 94,382 29,699 1,664 1,757 Changes in estimated development costs 78,64 15,72 25,211 16,33 18,852 2,86 Revisions of previous quantity estimates 571,647 34, ,95 98,71 154,175 3,131 Accretion of discount 5,355 38,855 58,98 1,897 14, Oil and Net Production* * Oil/Condensate/LPG LPG Thousand bbl/day 6/3 7/3 8/3 9/3 Japan Asia/Oceania Eurasia (Europe/NIS) NIS Middle East/Africa Americas Subtotal Proportional interest in production by equity-method affiliates Total Annual production (MMbbl) (Thousand bbl/day) () / /3 8/3 9/3 OPERATING DATA Net change in income taxes 11,795 2,868 53,66 5,63 4, Extentions, discoveries and improved recoveries 53,89 53,89 Other 33,4 23,994 54,85 2,671 4, Standardized measure, end of period and beginning of period (As of March 31 and April 1, 7) Changes resulting from: Sales and transfers of oil and gas produced, net of production costs ,283, ,744 63, ,492 66,874 5, ,569 4, , 127,112 16,676 3,542 Net change in prices, and production costs 1,935, ,166 64, , ,36 2,579 Development cost incurred 181,584 1,77 11,134 53,539 15,325 1,59 Changes in estimated development costs 9,54 15,295 15,745 77,487,149 2,126 Revisions of previous quantity estimates 43,723 4,232 49,365 34,272 26,786 2,388 Accretion of discount 264,348 29,488 19,146 39,421 85, Natural gas MMcf/day cf 6/3 7/3 8/3 9/3 Japan Asia/Oceania Eurasia (Europe/NIS) NIS Middle East/Africa Americas Subtotal ,51.1 1,88.8 1,9. Proportional interest in production by equity-method affiliates Total ,51.1 1,88.8 1,9. Annual production (Bcf) cf (MMcf/day) (cf) 1, 1, ,51.1 1,88.8 1,9. Net change in income taxes 1,5,154 23, ,165 12,479 79, Extentions, discoveries and improved recoveries 38,369 38, /3 7/3 8/3 9/3 Other 31,869 4,682 19, ,735 9, Standardized measure, end of period and beginning of period (As of March 31 and April 1, 8) Changes resulting from: Sales and transfers of oil and gas produced, net of production costs ,624,451 27, , ,96 91,43 2,43 812,293 5, , , ,34 2,271 Net change in prices, and production costs 2,324,615 77, ,64 47,345 1,24, Development cost incurred 146,89 7,611 82,634 45,12 9,333 2,129 Changes in estimated development costs 143,921 6,76 63,952 26,211 61,675 1,157 Revisions of previous quantity estimates 136,571 6,536 1,1 46,8 8,1 4,899 Accretion of discount 358,52 32, ,413 45, , Net change in income taxes 1,51,591 15,2 459,898 57,27 1,11,337 2,469 Extentions, discoveries and improved recoveries 6,488 6,488 Other 84,865 9,372 22,79 21,192 76, and natural gas Thousand boe/day 6/3 7/3 8/3 9/3 Japan Asia/Oceania Eurasia (Europe/NIS) NIS Middle East/Africa Americas Subtotal Proportional interest in production by equity-method affiliates Total Annual production (MMboe) (Thousand boe/day) () /3 7/3 8/3 9/3 29 Standardized measure, end of period (As of March 31, 9) , , ,745 59,513 9,96 13,326 * The exchange rates as of March 31, 7, 8 and 9 were the TTM rate of 118.9, 1. and per U.S.$ respectively. * Note: 1. Disclosure items of proved reserves are based on the U.S. Statement of Financial Accounting Standards No The figures in these tables include minority interests. * The production volume under the production sharing contracts entered into by INPEX Group corresponds to the net economic take of the Group. * 1. Statement of Financial Accounting Standards No.69 2.