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Press Release

Commencement of Crude Oil Production
from A-Structure South Field in Qatar

May 19, 2011
Cosmo Oil Co., Ltd.
Corporate Communication Dept.
Public Relations Office

It is announced that Qatar Petroleum Development Co., Ltd.(Japan) (Capital; 3.1 Billion Yen, Headquarter; Shinagawa-ku, Tokyo, Japan :President Mr. Keiichiro Okabe), which is a subsidiary of Cosmo Oil Co., Ltd. (Capital: 107.2 Billion Yen, Headquarter; Minato-ku, Tokyo, President; Mr. Yaichi Kimura), commenced oil production from A-Structure South Field in offshore Qatar, Middle East.

Qatar Petroleum Development Co., Ltd.(Japan) (QPD) was established as the project company for the purpose of petroleum development and operation in Block 1 SE located offshore Qatar in September 1997. After the field development and installations in Al Karkara Field and A-Structure North Field, the first oil flowed in March 2006. Since then with subsequent developments in the field, the total crude oil production amounts to 11 million barrels (as of March end in 2011).

In 2007, Qatar Petroleum approved the development plan for A-Structure South Field in the same Block. Since then, QPD has been continuing the development and on 27th April 2011, oil production commenced from the field and is expected to reach around 3,000 barrels-per-day bringing the total production from the 3 fields in Block 1 SE to around 9,000 barrels-per-day.

For this new production, it is highlighted particularly that the utilization of existing facility for processing crude oil and the re-injection of sour gas associated with produced oil in the same way implemented in original fields bring sustainable environment-friendly operation.

In the group of Cosmo Oil Company, our experience, technology and human resources accumulated through the various projects will be continuously utilized and we are obliged to seek for stronger relationship with countries in the Middle East. This achievement was accomplished under the directives of H.E. Dr. Mohammed Bin Saleh Al Sada, Minister of Energy and Industry & Chairman of the Board and Managing Director, Qatar Petroleum and the close collaboration between the management and technical teams of QP and QPD.

Executive Summary regarding Qatar Petroleum Development Co., Ltd.(Japan)
President; Mr. Keiichiro Okabe
Capital; 3.148 Billion Japanese Yen
Shareholding Structure; 75.0% of Cosmo Oil Co. and 25.0% of Sojitz Co.
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