December 11, 2018

Press Release

Idemitsu Kosan Co.,Ltd.

The Nghi Son Refinery Begins Commercial Operation

The Nghi Son Refinery, operated by Nghi Son Refinery & Petrochemical Limited Liability Company (hereinafter, "NSRP"), a joint venture of Idemitsu Kosan Co.,Ltd. (Head Office: Chiyoda-ku, Tokyo; Representative Director and CEO: Shunichi Kito; hereinafter, "Idemitsu"), Mitsui Chemicals, Inc. (Head Office: Minato-ku, Tokyo; President & CEO: Tsutomu Tannowa), Kuwait Petroleum International Ltd., and PetroVietnam, has begun commercial operation as of November 14th, 2018.

Idemitsu has been involved with Vietnam for more than 30 years since it began exploration activities in the nation in the late 1980s. Idemitsu began to study possible participation in the construction of Vietnam's second oil refinery in the early 2000s, and after the final investment decision in 2013, construction began that year on the new refinery that now has begun commercial operation.

Intended to secure stable domestic supplies of petroleum products in Vietnam, the refinery is a highly efficient facility that has the capacity to process 200,000 barrels/day of crude oil as well as to maximize production of high-value-added petroleum products through use of sophisticated cracking facilities. Its petroleum products will provide a stable supply to meet Vietnam's booming demand for energy, and its petrochemical products will be sold throughout Asia.

Idemitsu commenced operations at its first refinery, the former Tokuyama Refinery, about 60 years ago. The safe and stable operation of the Nghi Son Refinery will take advantage of the operational technologies and experience that we have built up in Japan over the past six decades, Idemitsu hopes to contribute to the future progress of the petroleum refining and petrochemical industries in Vietnam.

Idemitsu will continue to expand its businesses in the rapidly growing markets of Asia.

The Nghi Son Refinery, which recently began commercial operation

The Refinery's state-of-the-art facilities

Reference information:

  • 1. Overview of the Nghi Son Refinery and Petrochemicals Complex

    • (1) Location

      Nghi Son Economic Zone, Thanh Hoa Province, Vietnam

    • (2) Business volume

      Over USD9 billion (of which approximately USD4 billion is provided by the sponsors, with Idemitsu's share totaling approximately USD1.4 billion)

    • (3) Investment ratios

      Idemitsu 35.1%, Kuwait Petroleum International 35.1%, PetroVietnam 25.1%,

      Mitsui Chemicals 4.7%

    • (4) Main equipment

      • • Crude distillation unit (CDU) (topper): 200,000 barrels/day

      • • Residue hydrodesulphurization unit (RHDS): 105,000 barrels/day

      • • Residue fluid catalytic cracking unit: 80,000 barrels/day

      • • Aroma Complex (aromatic manufacturing unit): 700,000 tons/year of paraxylene

  • 2. Location

End

For inquiries regarding this press release, please contact Public Relations Section, Public Relations Department,

Idemitsu Kosan Co.,Ltd. TEL: +81-3-3213-3115

URLhttp://www.idemitsu.co.jp

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Idemitsu Kosan Co. Ltd. published this content on 11 December 2018 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 11 December 2018 02:19:04 UTC