Public Relations Group, Corporate Communications Unit

Akasaka Biz Tower, 5-3-1 Akasaka, Minato-ku, Tokyo 107-6332 JAPAN

January 17, 2022

INPEX Sells All Interests in Angola Block 14

TOKYO, JAPAN - INPEX CORPORATION(INPEX) announced that it has agreed to sell, jointly with TotalEnergies, all shares in Angola Block 14 B.V. held by INPEX Angola Block 14 Ltd. (IAB14), a wholly owned subsidiary, to Somoil Block 14 B.V., a wholly owned subsidiary of Sociedade Petrolifera Angolana, S.A. Through IAB14, INPEX owned 49.99 percent of the shares in Angola Block 14 B.V., an affiliate company of TotalEnergies, thereby indirectly owning a 9.99 percent participating interest in Offshore Angola Block 14 (the Block) in the Republic of Angola and 4.99 percent participating interest in Lianzi field in the Offshore zone distributed equally between the Republic of Angola and the Republic of the Congo where it had participated in the development and production of crude oil.

INPEX joined the project in 2012, which contributed to the sustainable expansion of its upstream business operations through the development and production of multiple oil fields since discovered at the Block. However, the company reached its decision to sell the shares from the perspective of optimizing the INPEX Group's asset portfolio, etc.

INPEX will proactively engage in energy structure reforms to contribute to the realization of a net zero carbon society by 2050 while continuing to fulfill its responsibilities for the stable development and supply of energy.

The impact of this matter on INPEX's consolidated financial results is minimal.

Public Relations Group, Corporate Communications Unit

Akasaka Biz Tower, 5-3-1 Akasaka, Minato-ku, Tokyo 107-6332 JAPAN

About the Project

Country

Republic of Angola

Offshore zone distributed equally

between the Republic of Angola and the

Republic of the Congo

Block

Block 14

Lianzi field

Participating

Chevron - Operator

31%

Chveron (Congo) - Operator

15.75%

interest

Sonangol P&P

20 %

TotalEnergies (Congo)

26.75%

Angola Block14 B.V

20 %*

Chevron (Angola)

15.5%

ENI

20 %

Angola Block 14 B.V.

10%

GALP

9 %

ENI

10%

Sonangol P&P

10%

SNPC

7.5%

GALP

4.5%

*INPEX joined the project in 2012 as a shareholder in the above JV (TotalEnergies: 50.01%,

INPEX: 49.99 %)

Media Contact: INPEX Tokyo Office, Public Relations Group, Tel) +81-3-5572-0233

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Inpex Corporation published this content on 17 January 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 17 January 2022 13:54:09 UTC.