Successful APA 2013 award in Norway

January 23, 2014 Project

Mitsui Oil Exploration Co., Ltd. (MOECO) is pleased to announce that its wholly-owned Norwegian subsidiary Moeco Oil & Gas Norge AS (MOGN) has been awarded a 15% interest in new offshore license PL475D in the 2013 Awards in Predefined Areas (APA 2013) by Norway's Ministry of Petroleum and Energy.

PL475D is located adjacent to PL475 in which MOGN has participated as a non-operator from 2013. The presence of natural gas and condensate was confirmed in PL475 and MOGN and its joint venture partners will continue exploration activity in this area.

MOECO has been engaged in exploration and production projects in Europe in collaboration with Mitsui & Co., Ltd. In Norway, MOGN opened its office in Oslo city and commenced activities from February 2013. MOECO aims to further expand its business and pursue further acquisitions of interests in new projects in this region and other areas of the world.

【PL475D Interest Holders】

Wintershall Norge AS ※Operator	35％
Faroe Petroleum Norge AS	30％
Centrica Resources (Norge) AS	20％
MOGN	15％