Discovery in Sakakemang PSC onshore Indonesia

February 22, 2019 Project

Mitsui Oil Exploration Co., Ltd. ("MOECO", Head Office: Tokyo, President & CEO: Hiroyuki Tsurugi) is pleased to announce that a discovery of natural gas has been made in the Sakakemang Block located onshore South Sumatra, Indonesia.

MOECO Sakakemang B.V., a wholly owned subsidiary of MOECO, participates in the Sakakemang Block with a 10% participating interest together with Talisman Sakakemang B.V., a subsidiary of Repsol, S.A. as the Operator with a 45% participating interest and PC Sakakemang B.V., a subsidiary of Petroliam Nasional Berhad (PETRONAS) with the remaining 45% participating interest. These parties have been jointly engaged in exploration activities in the Sakakemang Block and will continue such exploratory work and determine the amount of reserves through further appraisal activities.