Environmental Impact Assessment Begins Toward Construction of a Geothermal Power Plant in the Oyasu region

December 10, 2018 Project

Mitsui Oil Exploration Co., Ltd. ("MOECO") is pleased to announce that we have submitted an Environmental Impact Assessment Note to the Minister of Economy, Trade and Industry, the Governor of Akita Prefecture, and the Mayor of the City of Yuzawa on December 7, 2018 for geothermal energy development project in the Oyasu region of the City of Yuzawa, Akita Prefecture, Japan together with Idemitsu Kosan Co., Ltd. (operator) and INPEX CORPORATION. We plan to begin the environmental impact assessment process as a step toward full implementation of the project. MOECO joined the project in 2012 and carried out exploration activities with the joint venture partners using a subsidy provided by the Japan Oil, Gas and Metals National Corporation (JOGMEC).

Future plans call for proceeding with studies on construction of a geothermal power plant in the Oyasu region, aiming to begin commercial operation in 2024, in order to contribute to reducing carbon-dioxide emissions and securing stable supplies of electricity.

For details of the Note as of the planning stage and other matters, see the following URL.

http://www.oyasu-geothermal.com/

(Oyasu Geothermal Energy Co., Ltd. Website)

The planned project site (Oyasu region, Yuzawa, Akita Prefecture)