JX Nippon Oil & Gas Exploration Corporation is engaged in the development and production of oil and natural gas in Japan and around the world as one of the principal operating companies of the ENEOS Group, Japan's largest energy, resources and materials conglomerate.

The issue of climate change has become a shared challenge for the entire world. Following the COP26 summit held in 2021, the movement toward decarbonization and carbon neutrality has gained momentum and the business environment for the exploration of fossil fuels such as oil and natural gas becomes ever more challenging.

Meanwhile, the situation in the Middle East remains unstable, geopolitical risks are increasing following Russia's invasion of Ukraine and stable energy procurement has emerged as a major issue.

Under such a business environment, we advocate "Two-Pronged" approach focusing on the oil and natural gas development and production business as the "fundamental business," and as another prong, environment-friendly business centered on CCS / CCUS as the "growth business."

In our core business, we will work to maximize the asset value of existing operations in Malaysia and Vietnam, where we have maintained safety and stability as an operator for many years, while further strengthening our natural gas business, which has relatively low environmental impact, and for which demand is expected to grow.

In the environment-friendly business, which we position as a "growth business," we have for many years spearheaded progressive measures to reduce CO₂ emissions, starting with introduction of Zero-Flare in Abu Dhabi in 2000. Our achievements include:

• Implemented CDM in Vietnam, a first in the oil and gas industry (2007)
• Implemented CO₂-EOR in Vietnam, a first in Southeast Asia (2011)
• Implemented the Petra Nova CCUS project in the U.S. (2017), the largest of its kind in the world

We aim to use our accumulated expertise to develop environment-friendly business, mainly in Japan and the Southeast Asia region.

We will continue to tackle the challenge of achieving a stable energy supply and a sustainable society.

President and CEO
Toshiya Nakahara