Implementation of a Joint Study in the North Sumatra Basin, Indonesia

Japan Petroleum Exploration Co., Ltd. (JAPEX) announces that it has decided to conduct a study to evaluate the exploration potential in the North Sumatra Basin, Indonesia (hereinafter the "Study"). The Study will be conducted by forming a consortium with the Japan Organization for Metals and Energy Security (JOGMEC) and in collaboration with Padjadjaran University (UNPAD), a state university in Indonesia, following discussions with the relevant Indonesian authorities.

The Study will involve field surveys and the analysis and evaluation of data targeting both the offshore and onshore areas of the North Sumatra Basin. While the basin is a historical oil and gas producing area, large-scale gas fields have been discovered continuously in recent years, and the presence of further undiscovered resources is anticipated. The Study will be conducted utilizing JOGMEC's scheme for overseas geological and geophysical surveys^(*). Please refer to the appendix for the survey area.

In the "JAPEX Management Plan 2026-2035" formulated in April 2026, JAPEX positions Southeast Asia, including Indonesia, as one of its core areas. We aim to build a "core assets" portfolio and pursue revenue growth by creating businesses leveraging the technologies we have refined in Japan.