Acquisition of 15% Interest in PL475 in the Norwegian Sea

June 30, 2013 Project

Mitsui Oil Exploration Co., Ltd. (MOECO) is pleased to announce that Moeco Oil & Gas Norge AS (MOGN), a wholly-owned Norwegian subsidiary of MOECO, has acquired a 15% interest in PL475 in the Norwegian Sea from Wintershall Norge AS (Head Office: Stavanger, Norway), the operator of the block. PL475 is located in the central part of the Norwegian Sea and at the end of 2012, an exploratory well was drilled in PL475 and the existence of natural gas and condensate was confirmed. MOGN will participate in further exploration activity as a non-operator joint venture partner.

In Europe, MOECO has been engaged in exploration and production projects in collaboration with Mitsui & Co., Ltd. in the United Kingdom, Italy and Poland. 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.