UK

Idemitsu currently holds interests in a total of 28 licenses in the UKCS which include nine producing fields in the Central North Sea, as well as several discoveries, and exploration blocks both in the North Sea and West of Shetland. The average net production to Idemitsu was 2,700 bbls/day in 2012.

Idemitsu initiated activity in the UKCS in 2007 by farming into the exploration licenses in the West of Shetland, where a gas/oil discovery was made in 2009, and further drilling activities are planned.

In 2009, Idemitsu acquired Petro Summit Investment UK Limited which includes interests in producing fields, development projects and exploration/appraisal blocks in the Central North Sea.

In 2012, 3 exploration licenses in the West of Shetland and the Central North Sea were awarded through the 27th UKCS licensing round.

Idemitsu's intention is to continue to grow in the UKCS through further participation in exploration licenses as partner or operator. The upstream business of Idemitsu Group in UK is being managed by Idemitsu Petroleum UK Ltd.