MOECO was awarded four new oil and gas blocks offshore Thailand

December 19, 2007 Project

Mitsui Oil Exploration Co., Ltd. ("MOECO", Head office: Hibiya Central Bldg. 2-9, Nishi Shimbashi 1-Chome, Minato-ku, Tokyo, JAPAN / President: Mr. Yoshiyuki Kagawa) is pleased to announce that, along with its partners, it has been granted the concession rights to four prospective offshore petroleum blocks in Thailand's 20th bidding round.

The Thai Cabinet and the Department of Mineral Fuels (DMF) approved MOECO's participation in four petroleum concessions (total area: 12,576 square kilometers). The four newly awarded blocks are adjacent to producing blocks which MOECO is currently participating in directly or through its subsidiaries.

The blocks awarded to MOECO are:

G4/50 (covers 11,655 square kilometers):
・MOECO - 25%
・Chevron Petroleum (Thailand), Ltd. - 75% (operator)

G6/50 (covers 492 square kilometers):
・MOECO - 23.75%
・Chevron Petroleum (Thailand), Ltd. - 71.25% (operator)
・PTTEP Thai Projects Company Limited - 5%

G7/50 (covers 307 square kilometers):
・MOECO - 5%
・Chevron Petroleum (Thailand), Ltd. - 35% (operator)
・PTTEP Thai Projects Company Limited - 45%
・HESS Exploration (Thailand) Co., Ltd. - 15%

G8/50 (Covers 122 square kilometers)
・MOECO - 4%
・PTTEP Thai Projects Company Limited - 80% (operator)
・Chevron Petroleum (Thailand), Ltd. - 16%

On October 29, 2007, MOECO signed a Supplementary Concession to extend the production period under petroleum concessions covering four other producing blocks (Blocks 10, 11, 12 and 13) in the Gulf of Thailand for 10 years from 2012. Together with this extension, MOECO would like to continue its contribution in supplying stable long term energy to help promote further economic development in the Kingdom of Thailand.