Financial Results for Nine Months Ended December 31, 2023
Appendix
6. Business Overview 4 CN Field
• Ongoing Carbon Neutral initiatives to promote/participate in
Japan
Realize hub & cluster type CCS/CCUS model by FY2030
Consideration in JAPEX
✓ Examination of CO2 storage capacity in our oil and gas fields, etc.
✓ Study of re-injection of associated CO2 from our oil and gas field
operations
Feasibility study with companies/cross-industry
✓ Considering of possibility of a business that effectively utilizes CO2
in the Niigata area with Mitsubishi Gas Chemical (May 2021~)
✓ Feasibility study of CCUS project in Tomakomai area, Hokkaido with
Idemitsu and HEPCO (Jan 2023~)
✓ JAPEX, Idemitsu, and HEPCO commissioned a CCS Study in
Tomakomai Area as the "Business Feasibility Study on Japanese
Advanced CCS Project" in FY2023 by JOGMEC (Jul 2023)
✓ JAPEX, MGC, TOHOKU-EPCO, HC and NRI commissioned a Study in
East-Niigata Area as the "Business Feasibility Study on Japanese
Advanced CCS Project" in FY2023 by JOGMEC (Aug 2023)
✓ Agreed on Joint Study with Nippon Gas Line on domestic marine
transportation of liquefied CO2 and port developments (Nov 2023)
✓ Commencement of Joint Study with MGC, IHI, Mitsui & Co., and MOL
to establish ammonia supply base in Soma area, Fukushima
Prefecture (Jan 2024~)
Overseas
JAPEX
Early profit earning in advanced countries
& consideration in emerging countries
Consideration in JAPEX
✓ Consideration for participation in CCS/CCUS projects in North
America, Europe and other systematically advanced areas
Feasibility study on companies/cross-industry
✓ Joint feasibility study of a CCUS project in Indonesia's Sukowati oil
field utilizing bilateral credits (with Pertamina Group and Lemigas)
(Jun 2021 Jul 2023)
✓ Joint Study on CCS in Malaysia: Jointly conducted site surveys and
technical studies with a view to implementing CO₂ geological storage
with PETRONAS, JGC Global Corporation, and Kawasaki Kisen Kaisha
(Jan 2022~)
✓ Agreed with JFE Steel Corporation to establish CCS value chain
originated from JAPAN in conjunction with the above CCS joint study
in Malaysia in FY2023 (Jun 2023)
✓ Signed a Memorandum of Understanding with SKK Migas for
cooperation in realizing Hub & Cluster CCS/CCUS in Indonesia (Sep
2023)
✓ Capital participation in Blue Spruce Operating LLC of the U.S. to
participate in our first CCS business study project in advanced
overseas country (Oct 2023)
✓ Started CO2 injection testing at the Sukowati oil field in Indonesia
based on a joint study agreement with JOGMEC and the Pertamina
Group (Dec 2023~)
Common
Technical and other related study
✓ Study on technical issues of energy transportation infrastructure for the realization of a CN society with JFE Engineering
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