Slide 1: Appendix: Financial results for the six months ended June 30, 2024
Appendix Financial results for the six months ended June 30, 2024 INPEX CORPORATION (Securities Code: 1605) August 8, 2024
Slide 2: Subsidiaries and Affiliates, etc.
Subsidiaries and Affiliates, etc. 74 Subsidiaries Major Subsidiaries Country / Region Ownership Phase Accounting Term INPEX Ichthys Pty Ltd Australia 100% Production December INPEX Oil & Gas Australia Pty Ltd Australia 100% Production December Japan Oil Development Co., Ltd. UAE 100% Production Dece
Slide 3: 2Q FY2024 Segment Information
2Q FY2024 Segment Information Oil and Gas Overseas Oil and Gas Other* Total Adjustments Consolidated Japan Ichthys Other Projects Projects (Millions of yen) Revenue 110,698 227,564 853,436 21,476 1,213,174 （22,313) 1,190,861 Segment Profit (Loss) 9,362 150,012 52,015 1,224 212,614 (28) 212,586 * The
Slide 4: Net Production Volume (January to June 2024)
Net Production Volume (January to June 2024) * Crude Oil, Condensate and LPG （388 thousand BOE/day） 2 O&G Japan 9 3 2 （1%） O&G Overseas 385 （99%） Crude Oil and 9 2Natural gas Total Ichthys Project (662 thousand 3 BOE/day) 253 278 37 （9%） O&G Japan Other Projects 349 （91%） 18 （3%） 253 O&G Overseas 27
Slide 5: Electric Power Generation Capacity & Electric Power Generated
Electric Power Generation Capacity & Electric Power Generated Electric Power Generation Capacity Power Generation Capacity Country Status INPEX’s share Power Generation Capacity for INPEX’s share Koshijihara Gas Fired Power Plant Japan 100% 55MW 55.0MW Total Gas Fired Power 55MW 55.0MW INPEX Mega So
Slide 6: Sales Volume
FY2024 Sales Volume (Forecast) Previous Forecasts as of Previous Forecasts as of Change % Change February 13, 2024 August 8, 2024 Crude oil (thousand bbl) *1 135,344 139,615 4,271 3.2% Sales Volume Natural gas (million cf) *2 524,061 499,727 (24,334) (4.6%) Overseas 427,717 402,389 (25,328) (5.9%) 9
Slide 7: Crude Oil and Exchange Rate Sensitivities
Crude Oil and Exchange Rate Sensitivities (Calculation as of the announcement of financial results on February 13, 2024) Sensitivities of crude oil price and foreign exchange fluctuation on profit attributable to owners of parent for the year ending December 31, 2024*1 （Billions of Yen） At Beginning
Slide 8: Shareholder Returns
Shareholder Returns DPS Dividends, Share Buybacks and Total Payout Ratio (Unit:¥) *1 The total payout ratio for FY2020/12 is NA due to net loss. *2 IFRS Basis from 2023/12 7
Slide 9: Reserves & Production Indices
Reserves & Production Indices Production Cost per BOE Produced*1 Reserve Replacement Ratio (3-year average)*2 (US$/boe) (%) Incl. royalty Excl. royality 15.2 76% 13.3 11.3 46% 37% 5.4 5.8 5.6 FY2021 FY2022 FY2023 2021/12 2022/12 2023/12 *1 Production cost per boe produced: Production cost divided by
Slide 10: Reserves
Reserves Reserves *1 Proved Reserves by Region (Million boe) (%) 6,706 6,505 6,311 6,213 6,233 3 2,620 2,775 2,666 2,476 2,661 22 27.1 years *4 FY2023/12 Year end 4,086 3,730 3,645 3,738 3,572 15.5*4 Years 75 FY2019/12 FY2020/12 FY2021/12 FY2022/12 FY2023/12 Japan Australia & Southeast Asia Europe,
Slide 11: Upside Potential from Proved & Probable Reserves etc.
Upside Potential from Proved & Probable Reserves etc. (Million boe) Probable Reserves Lower Zakum, Abadi, Proved Undeveloped Reserves Ichthys, etc. Proved Developed Reserves Abadi, Ichthys, etc. 2,661 27.1 1,148 1,148 Years*1 15.5 Years*1 2,424 2,424 Proved Developed Proved Undeveloped Proved Reserv
Slide 12: Analysis of Change in Reserves
Analysis of Change in Reserves Analysis of Change in Proved Reserves Analysis of Change in Probable Reserves (Million boe) （Million boe） 62 14 177 8 0.1 (12) (230 ) 3,738 2,661 3,572 2,476 December 2022 Extensions and Revisions of Impact of Production December 2023 December 2022 Extensions and Revis
Slide 13: Definition of Proved Reserves and Probable Reserves
Definition of Proved Reserves and Probable Reserves Proved Reserves Our definition of proved reserves is in accordance with the SEC Regulation S-X, Rule 4-10, which defines proved reserves as the estimated quantities of oil and gas, which, by analysis of geoscience and engineering data, can be est
Slide 14: Climate Change Response Goals and GHG Emissions
Climate Change Response Goals and GHG Emissions 2050 2030 Scope 3 Our Climate Change NET ZERO* 30% OR MORE* Work together with Response Goals reduction of all relevant stakeholders to in absolute emissions net carbon intensity address challenges (Scope 1+2) across the value chains * on INPEX equity
Slide 15: Project Data
INPEX Project Data 14
Slide 16: List of Main Projects (1/3)
List of Main Projects (1/3) Crude oil LPG production Participating production Gas production Name of Fields / Projects Contract Type (Thousand Phase Interest (%) (Thousand (Million cf/day)*2 bbl/day)*2 bbl/day)*2 Australia WA-285-P*1 and others Concession 93.82 - - - Exploration Upstream Upstream na
Slide 17: List of Main Projects (2/3)
List of Main Projects (2/3) Participating Interest Crude oil production LPG production Gas production Fields / Projects name Contract Type Phase (%) (Thousand bbl/day)*2 (Thousand bbl/day)*2 (Million cf/day)*2*3 Middle East Upper Zakum Oil Field etc. Concession 12 Production Lower Zakum Oil Field Co
Slide 18: List of Main Projects (3/3)
List of Main Projects (3/3) Crude oil production LPG production Fields / Projects name Contract Type Participating Interest (%) Gas production*2 Phase (Thousand bbl/day)*2 (Thousand bbl/day)*2 Japan Crude oil & condensate: Approx. 2.3 million m3/d Minami-Nagaoka Gas Field, etc.*1 Concession - - Prod
Slide 19: Project Highlights – Ichthys LNG Project
Project Highlights – Oil and gas business – CORE AREA #1 Australia Ichthys LNG Project Overview of the Project Exploration Blocks in the Vicinity of the Project Drilling of Production Wells INPEX holds participating interests in 16 exploration blocks in the vicinity of the Currently drilling t
Slide 20: Project Highlights – Prelude FLNG and Van Gogh
Project Highlights – Oil and gas business – CORE AREA #1 Australia Prelude FLNG Project INPEX Oil & Gas Australia Pty Ltd Operator: Shell Milestones Concession Agreement: Valid until end of production Made FID in May 2011 Production Capacity Wells opened and initial phase of production c
Slide 21: Project Highlights – Bayu-Undan
Project Highlights – Oil and gas business – CORE AREA #1 Australia TL-SO-T 19-12 Block (Bayu-Undan Gas and Condensate Field) INPEX Sahul, Ltd. Operator: Santos PSC: Until 31 August 2024 Milestones In February 2004, commenced sales of condensate and LPG In August 2005, entered into an LNG S
Slide 22: Project Highlights – Abu Dhabi
Project Highlights – Oil and gas business – CORE AREA #2 Abu Dhabi Abu Dhabi Onshore Concession Operator：ADNOC Onshore* Concession agreement：Until 2054 * Operating company owned by companies with participating interests. JODCO Onshore Limited has a 5% share in Development study is ongoing to i
Slide 23: Project Highlights – Abadi LNG Project
Project Highlights – Oil and gas business – CORE AREA #3 Southeast Asia Abadi LNG Project INPEX Masela, Ltd. Operator : INPEX PSC : Until November 15, 2055 (Signed extension in October 2019) Production Capacity Total output of natural gas 10.5 million tons per year (LNG equivalent) including
Slide 24: Project Highlights – Southeast Asia Vietnam and Sebuku
Project Highlights – Oil and gas business – CORE AREA #3 Southeast Asia Blocks 05-1b and 05-1c (Sao Vang and Dai Nguyet Gas Field) INPEX Con Son Co., Ltd. Operator: Idemitsu Gas Production (Vietnam) PSC: Until November 17, 2034 Expected Production Volume Gas: approx. 1.5 billion m3 per year
Slide 25: Project Highlights – Malaysia Blocks
Project Highlights – Oil and gas business – CORE AREA #3 Southeast Asia Block 4E (deep water block) INPEX Malaysia E&P 4E Sdn. Bhd. Operator : INPEX Malaysia E&P 4E Sdn. Bhd. PSC : Until February 14, 2059（1st exploration period: three years until February 14, 2026, 2nd exploration period: two ye
Slide 26: Project Highlights – Natural Gas Business in Japan
Project Highlights – Oil and gas business – CORE AREA #4 Japan Natural Gas Business in Japan Natural Gas Sales Volume (1m3 =41.8605MJ) FY2023 (actual): 2.04 billion m3 FY2024 (forecast): 2.09 billion m3 2030 outlook: 2.70 billion m3 Naoetsu LNG Terminal Commenced commercial operations in
Slide 27: Project Highlights – Snorre Project etc. in Norway
Project Highlights – Oil and gas business – CORE AREA #5 Europe Snorre Project etc. in Norway Snorre Oil Field Operator: Equinor Production Start-up: 1992 Milestones • 2022: Completed Snorre Expansion Development Construction Project • May 2023: Hywind Tampen (floating offshore wind power) s
Slide 28: Project Highlights – Kashagan and ACG Oil Fields
Project Highlights – Oil and gas business – OTHER AREAS Kashagan Oil Field and others INPEX North Caspian Sea, Ltd. Operator: North Caspian Operating Company (NCOC) PSA: Until the end of 2031* (Kashagan) Milestones Oil shipments at Kashagan Oil Field commenced in October 2016 Operations on
Slide 29: Project Highlights – BTC Pipeline and Iraq Block 10
Project Highlights – Oil and gas business – OTHER AREAS BTC (Baku-Tbilisi-Ceyhan) Pipeline Project INPEX BTC Pipeline, Ltd. Operator : BP Oil export volume*:approx. 584 thousand bbl/day *Average transportation volume for May 2024 Milestones Acquired a 2.5% participating interest in the opera
Slide 30: Net Zero Businesses #1 Hydrogen & Ammonia
Project Highlights – 5 net zero businesses – Net Zero Businesses #1 Hydrogen & Ammonia Integrated Demonstration of Hydrogen & Ammonia Production (Kashiwazaki City, Niigata Prefecture, Japan) In October 2022, took a final investment decision (FID) on drilling operations and the construction of faci
Slide 31: Net Zero Businesses #2 CCUS
Project Highlights – 5 net zero businesses – Net Zero Businesses #2 CCUS 【ネットゼロ５分野②】CCUS（上流事業のCO 2低減） (Reduction of CO2 CO EOR実証（新潟県阿賀野市） emissions from upstream operations) 2 CO EOR Demonstration (Agano City, Niigata Prefecture, Japan) 2 2021年4月、CO2を用いた原油回収促進技術（EOR）の実証試験に向けたJOGMECとの共同研究を開始 20
Slide 32: Net Zero Businesses #3 Renewable Energy
Project Highlights – 5 net zero businesses – Net Zero Businesses #3 Renewable Energy Offshore Wind Power Project （Europe） Luchterduinen Offshore Wind Farm Moray East Offshore Wind Farm Borssele III/IV Offshore Wind Farm Year of participation : 2022 Year of participation : 2023 Year of particip
Slide 33: Net Zero Businesses #3 Geothermal Projects in Indonesia
Project Highlights – 5 net zero businesses – Net Zero Businesses #3 Renewable Energy Geothermal Power Projects in Indonesia Muara Laboh Geothernal Power Project Rajabasa Geothermal Power Project Year of participation : 2021 Year of participation : 2022 Operator:PT Supreme Energy Muara Laboh
Slide 34: Net Zero Businesses #4 Carbon Recycling & New Business
Project Highlights – 5 net zero businesses – Net Zero Businesses #4 Carbon Recycling & New Business Methanation (Nagaoka City, Niigata, Japan) Commenced construction of CO2-methanation test facility with production capacity of 400 normal cubic meters of methane per hour. Completed feasibility st
Slide 35: Other Data and Information
Other Data and Information 34
Slide 36: Accounting based on IFRS
Accounting based on IFRS Costs and Statement of Financial Statement of profit Expenditures Position Other Exploration Costs Exploration Expenditures Dry hole Exploration expenses Exploration and Oil & Gas assets evaluation well Commercialized drilling costs etc. Development Expenditures Cost of sale
Slide 37: Ichthys LNG Project Structure Overview
Ichthys LNG Project Structure Overview INPEX Holdings Australia Pty Ltd (Holding company) 100% owned subsidiary 100% owned subsidiary 67.82% owned joint venture INPEX Operations Australia Pty Ltd INPEX Ichthys Pty Ltd Ichthys LNG Pty Ltd (Operating company) (Upstream entity) (Downstream entity) Scop
Slide 38: Ichthys LNG Project Accounting Process Overview
Ichthys LNG Project Accounting Process Overview Assets on Consolidated Consolidated Ichthys Upstream Permit Holding Statmenet of Financial entity (UJV) Statement of Profit Position Revenue Revenue All production costs are Production Costs expensed as incurred Cost of sales (Operating Expenses) (Oper
Slide 39: Summary of Australian Taxation
Summary of Australian Taxation Revenue ⇒(Oil & Gas sales price)×(Sales volume) …………..(1) Operating expense etc. ⇒OPEX incurred in relevant year (+Exploration cost)+CAPEX tax depreciation …………..(2) PRRT (Petroleum Resource Rent Tax) = (Upstream Revenue - Upstream CAPEX & OPEX - Exploration Cost - Aba