Successful exploration well in the Norwegian North Sea

Idemitsu Kosan Co.,Ltd. (Head Office: Chiyoda-ku, Tokyo; Representative Director and CEO: Shunichi Kito) is pleased to announce that its subsidiary, Idemitsu Snorre Oil Development Co., Ltd. (Head Office: Chiyoda-ku, Tokyo; President: Jun Miki)^*1 has discovered, through Idemitsu Petroleum Norge AS^*2 (Managing Director: Hiroshi Arikawa), an accumulation of oil by the exploration well 34/4-15S and 34/4-15A in the “Dugong” structure in PL882, in which the company owns a 20% interest.

The discovered Dugong structure is located in the Norwegian North Sea, approximately 10 km west of the Snorre field, in which the company owns a 9.6% interest. Idemitsu acquired the interest of production license 882 in 2019.

The well 34/4-15S and 34/4-15A encountered oil-bearing reservoirs in the Upper Jurassic sandstone and the Middle Jurassic Brent Group.

The discovery will be assessed for considering the development.

*1.Shareholders: Idemitsu Kosan Co.,Ltd. (50.5 %), Osakagas Summit Resources Co., Ltd. (49.5 %)
*2. Shareholders: Idemitsu Snorre Oil Development Co., Ltd. (100 %)

License Summary

License name	PL 882
License Share in PL 882 ●Operator	Idemitsu Petroleum Norge AS	20%
	● Neptune Energy Norge AS	40%
	Concedo AS	20%
	Petrolia NOCO	20%