Masatoshi Sugioka
Representative Diretor
Vice Chairman in charge of HSE

The INPEX Group strives to become an integrated E&P company, committed to contributing to the development of society as a good corporate citizen that upholds high business ethics and has a corporate culture that places ensuring safety and environmental integrity at the top of its agenda.

We are also committed to following rules and standards prevailing in the international community when conducting our business on a global basis to secure and provide a stable supply of energy for our customers. There are also strong demands to globalize our corporate culture.

In December 2007, we developed the HSE Management System Manual to carry out integrated health (H), safety (S) and environmental (E) activities based on internationally recognized standards.

The development of our HSE Management System encompassed a broad range of HSE activities such as creating various HSE documents, setting up the cross-departmental HSE Committee and HSE supporting groups, drawing up our annual HSE Objectives and Programs and so forth. As this system is being implemented in a systematic and consistent manner, we can now promote HSE activities at a higher level. It has also resulted in more voluntary and ambitious efforts on the part of the Operational sites, thus enabling a dramatic reduction in the number of lost time injuries. Even so, we need to make steady efforts to determine whether “safety first” and “environmental stewardship” have indeed spread to every corner of our Group. We need to make sure that risk is managed, HSE plans are implemented, and emergency response training is conducted even for small operations. We must enhance the system so that accidents are promptly reported to the top of the organization and that measures are taken to prevent recurrences. We began HSE culture development activities with the understanding that these activities also have a bearing on how we should build our HSE culture as an organization.

HSE activities in the INPEX Group are implemented not only by our leaders in corporate management but also by the employees of the Group and contractors who perform various tasks at the forefront of our operations. In order to execute on-site tasks while also putting safety first and conserving the environment, we have to maintain high skill levels among our employees. For that purpose, we need to improve our HSE training programs, both quantitatively and qualitatively.

In the future, activities at the INPEX Group will become increasingly globalized and our projects will grow larger and more complex. As we conduct our business in different natural environments, diverse workplaces, and in association with a broad array of stakeholders, we will carry out HSE activities with our unwavering commitment to being a company that is trusted and truly needed by society.

The INPEX Group is a global, independent energy company and our vision is to provide a stable and efficient supply of energy to our customers. We recognize our responsibility for sustainable development and, in this regard, we aim to protect the health and safety of all those associated with our business activities and to minimize adverse impacts on the environment.
To accomplish this, we will:

• Comply with all applicable HSE laws and regulations, and apply our standards where laws and regulations do not exist or are considered insufficient.
• Implement and maintain HSE management systems, and perform regular audits of legal compliance and progress of our HSE activities to achieve continuous improvement in our HSE performance.
• Identify and assess health and safety hazards and eliminate or, if not possible, reduce risks to as low as reasonably practicable to prevent incidents.
• Conduct environmental assessments and promote efficient energy consumption to reduce adverse environmental impacts.
• Maintain and regularly test emergency plans to ensure a quick and effective response in the event of emergencies.
• Provide resources that will enable our employees to meet HSE objectives and targets.
• Provide training in HSE activities and safe driving to ensure all employees are aware of their responsibilities and accountabilities in these areas.
• Require contractors to manage HSE in accordance with this Policy, and to achieve agreed HSE targets.
• Communicate openly on HSE activities with stakeholders.

June 23, 2010
Toshiaki Kitamura
Representative Director, President
INPEX CORPORATION