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JOGMEC Participates in ConocoPhillips CO2 Exchange Test in Alaska

October 19, 2011

Japan Oil, Gas and Metals National Corporation

 Japan Oil, Gas and Metals National Corporation ("JOGMEC", President: Hirobumi Kawano) is pleased to announce that it has signed the Participation Agreement with ConocoPhillips Company ("COP") on October 17 th, 2011 on CO<sub>2</sub> Exchange field test at the Prudhoe Bay operating unit in Alaska. 
 
 COP will conduct a field trial of CO<sub>2</sub> injection into a methane hydrate bearing structure whereby carbon dioxide is exchanged in situ with the methane molecules releasing the methane for production. 
 
 JOGMEC is to participate in the study, intending to obtain knowledge useful for research activities in the fields such as CCS, unconventional gas, and so on.
 JOGMEC may be utilizing the test results for future development of methane hydrates as well.
Schedule Drilling test well (Complete)
Sep.-Nov.2011 : Finalizing parameters for the field test
Jan.-Apr.2012 : Field test
Location PrudhoeBayoperatingunitinAlaska,USA (seeFigure)
Operator subsidiary,
ConocoPhillips Alaska, Inc.
Investor TheUnitedStatesDepartmentofEnergy (DOE)


Attachment

Signing Ceremony

Hironobu Kawano Merlin R. Lindstrom
President Interim SVP, Technology
JOGMEC ConocoPhillips Company

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