Commencement of Inter-Well CO2 Injection Test at Sukowati oil field, Indonesia

Japan Petroleum Exploration Co., Ltd. (hereinafter "JAPEX"), PT Pertamina (Persero), the national energy company of Indonesia (hereinafter "Pertamina"), PT Pertamina EP (hereinafter "PEP"), and Japan Organization for Metals and Energy Security (hereinafter "JOGMEC") have started inter-well CO₂ injection test (hereinafter the "Test") at the Sukowati oil field in East Java Province of Republic of Indonesia (hereinafter "Indonesia") on October 8, 2024.

The Test is based on the Joint Study Agreement signed this August ^(*) with Pertamina, PEP, and JOGMEC to conduct CO₂ injection between multiple wells at the Sukowati oil field to help verify the effects of CO₂-EOR (Enhanced Oil Recovery) and the CO₂ sequestration.

For JAPEX, the Test is a part of the CO₂ injection test that has been ongoing since last year at the Sukowati oil field and will be an essential step towards the commercialization of areas of carbon neutralization such as CCS (Carbon dioxide Capture and Storage) / CCUS (Carbon dioxide Capture, Utilization, and Storage) in Indonesia.

JAPEX has set the commercialization of areas centered on CO₂ injection and storage technologies, that contribute to achieve net zero emissions, as one of the focused efforts in "JAPEX2050" formulated to realize a carbon-neutral society. Including this test, JAPEX will continue to aim to grow as a "comprehensive energy company" that meets the needs of the times and further enhances its corporate value through solving issues and realizing businesses for carbon neutrality in Japan and abroad.