Acquisition of 25% Interests of Tempa Rossa onshore oil field in Italy

March 18, 2013 Project

Mitsui Oil Exploration Co., Ltd. ("MOECO", Head office: Hibiya Central Bldg. 2-9, Nishi Shimbashi 1-Chome, Minato-ku, Tokyo, JAPAN / President: Mr. Mitsuo Hidaka) is pleased to announce that Mitsui E&P Italia A S.r.l ("MEPIT") has acquired a 25% interest in the Tempa Rossa onshore oil field in the Gorgolione concession in Italy. MEPIT is a wholly-owned subsidiary of Mitsui E&P UK Limited ("MEPUK") whose shares are 40% owned by MOECO with Mitsui & Co., Ltd. ("Mitsui") holding the remaining 60%. MEPIT has entered into a definitive share purchase agreement with Total E&P Italia S.p.A ("TEPIT") on 18 March, 2013 for the purchase by MEPIT of the entire share capital of Total E&P Energia Italia S.r.l ("TEPEI") which owns a 25% participating interest in the Gorgoglione concession.

This will be MOECO's first project in Italy and this acquisition in collaboration with Mitsui leads to the further diversification of MOECO's portfolio and expansion of its assets to underpin future growth.

Asset	Tempa Rossa oil field in the Gorgoglione concession
Interest Holders (after closing)	50% 25% 25%	TEPIT ※Operator Shell Italia E&P S.p.A (a 100% subsidiary of Royal Dutch Shell) MEPIT
Recoverable Reserves	approx. 440 million boe*
Commencement ?of Production	Scheduled to commence production in first quarter on 2016
Daily Production	approx. 52,500 boe per day at peak

* barrels of oil equivalent

Sale and Purchase Details:

Buyer	MEPIT , a 100% subsidiary of MEPUK*
Seller	TEPIT, a group company of Total S.A.
Acquisition	The entire share capital of TEPEI, a 100% subsidiary TEPIT.

*MOECO acquired a 40% shareholding in MEPUK in December 2012.