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Idemitsu Kosan, Comment on Certain Media Report Released on December 20, 2014
On December 20, 2014, certain media reported that Idemitsu Kosan Co.,Ltd.("Idemitsu") might acquire shares of Showa Shell Sekiyu K.K.,　Idemitsu has not made any announcement in this regard. Idemitsu is considering wide-scale business restructuring, and the two companies are discussing potential cooperation. However, no formal decision has been made regarding such cooperation.

Discovery of Gas and Condensate Offshore Southern Vietnam Blocks 05-1b and 05-1c
Idemitsu Oil & Gas Co., Ltd. (Operator, President: Kosuke Tsuji), JX Nippon Oil & Gas Exploration Corporation (President & CEO: Shunsaku Miyake) and Teikoku Oil (Con Son) Co., Ltd. (President: Kenji Kawano) are pleased to announce the discovery of gas and condensate at the fourth well called “SV-1X” in the “Sao Vang” structure in Blocks 05-1b and 05-1c offshore southern Vietnam.

Ground Breaking Ceremony for the Nghi Son Refinery and Petrochemical Complex
Idemitsu Kosan Co.,Ltd. (Headquarters: Chiyoda-ku, Tokyo; President: Takashi Tsukioka, hereinafter referred as "Idemitsu") and Mitsui Chemicals, Inc. (Headquarters: Minato-ku, Tokyo; President: Toshikazu Tanaka, hereinafter referred as " Mitsui") hereby announce that The Nghi Son Refinery and Petrochemical Limited Liability Company (NSRP), in which Idemitsu, Mitsui, Kuwait Petroleum International, and PetroVietnam have a stake, began work on the construction of the Nghi Son Refinery and Petrochemical Complex on July 22 and held a Ground Breaking Ceremony on October 23 (local time) with the participants from each country concerned including Vietnamese Prime Minister Dung.

Qatar Petroleum and partners sign Joint Venture Agreement for the Laffan Refinery 2 Project
Qatar Petroleum (QP) signed a Joint Venture Agreement with Total, Idemitsu, Cosmo, Marubeni and Mitsui for the new Laffan Refinery 2 (LR2) Project.

Letter of Award Issued for Nghi Son Refinery and Petrochemical Complex
Idemitsu Kosan Co., Ltd. (Head office: Chiyoda-ku, Tokyo; President: Kazuhisa Nakano; hereinafter “Idemitsu”) established Nghi Son Refinery and Petrochemical LLC (hereinafter “NSRP”) in 2008, together with Mitsui Chemicals, Inc. (Head Office: Minato-ku, Tokyo; President & CEO: Toshikazu Tanaka; hereinafter “Mitsui”), Kuwait Petroleum International (hereinafter “KPI”), and PetroVietnam (hereinafter “PVN”) in order to develop a workable concrete business scheme for the possible refinery business in Vietnam as well as conducting Front-End Engineering Design work (FEED) for an international bidding.