Integrated Report 2023

Appendix 6. Business Overview 4 CN Field • Ongoing CCS/CCUS initiatives to promote/participate in Japan Realize hub & cluster 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) 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~) ✓ Signed Joint Study Agreement with JOGMEC and Pertamina Group to conduct study towards CO2 injection test at Sukowati oil field in Indonesia (Jun 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) Common Technical and other related study ✓ Study on technical issues of energy transportation infrastructure for the realization of a CN society with JFE Engineering Copyright 2023 Japan Petroleum Exploration Co., Ltd. (JAPEX) All Rights Reserved. 39

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