First oil production for the Tempa Rossa Project in Italy

February 6, 2020 Project

Mitsui Oil Exploration Co.,Ltd. ("MOECO", Head Office: Tokyo, President and CEO: Hiroyuki Tsurugi) is pleased to announce that Mitsui E&P Italia A S.r.l ("MEPIT"), which is our affiliated company in Italy, jointly established with Mitsui & Co.,Ltd. has been successfully started first oil production at onshore oil field in Italy, Tempa Rossa in December 2019. Tempa Rossa is currently producing 25,000 barrels as ramp up phase.

MEPIT has a 25% stake in the onshore field which is expected to produce 50,000 barrels of oil a day at its peak for Italian and overseas markets. The operator is Total E&P Italia S.p.A (50%) with Shell Italia E&P S.p.A holding the other 25% share.

The oil is being exported via an existing pipeline to Taranto refinery in southern Italy where it is being used as feedstock or exported. The field will also produce 240 metric tons of liquefied petroleum gas (LPG) and 80 metric tons of sulfur a day.

Six out of eight wells planned for the field have been completed with facilities in place to process the crude oil and gas and store LPG.

Over the coming decades the field is expected to be a significant contributor to southern Italy's economy, creating some 1,500 jobs directly and indirectly and providing a secure domestic source of energy.

Located in the Basilicata region, mainly in the territory of the Municipality of Corleto Perticara, it has been developed to minimize environmental impacts by using state of the art technology including environmental protection and monitoring systems.

MOECO will continue to work through MEPIT to further expand the project, whilst ensuring safe and reliable operations.