Message from President & CEO

We at INPEX CORPORATION would like to express our sincere appreciation for your continued understanding and support of the INPEX Group and our business operations.

INPEX has been growing as an upstream company, positioning the exploration, development and production of oil and gas as its core business. While INPEX will continue to be expected to respond to the world’s growing energy demand especially in Asia, our current business environment is undergoing dramatic changes underscored by the global response to climate change and transition to a low-carbon society as well as the impact of the global spread of COVID-19 on energy demand. We recognize that addressing these challenges will not be easy. However, we choose to regard these challenges as opportunities to proactively develop our business.

Taking this situation into account, in January 2021 we formulated our “Business Development Strategy—Towards a Net Zero Carbon Society by 2050.” Furthermore, in February 2022 we drew up our “Long-term Strategy and Medium-term Business Plan (INPEX Vision @2022),” conveying our plans to become a leading company supplying diverse energy sources stably by maintaining our focus on oil and gas on the basis of thoroughly making the business cleaner while proactively engaging in our 5 net zero businesses.

Specifically, we will expand our 5 net zero businesses including hydrogen/ammonia, CCS/CCUS, renewable energy, carbon recycling/new business and forest conservation towards 2050 on an accelerated basis and solidify our position as a credible and leading player in each of these fields. As for our core business of upstream oil and gas, we will select and concentrate on our core business areas, implement a shift to natural gas and make the business cleaner and more resilient in an integrated manner to maintain a stable supply of clean energy.

Going forward, we will strive to further improve the corporate value of the INPEX Group while fulfilling our responsibility of contributing to the realization of a net zero carbon society by consistently supplying clean and diverse energy sources from oil and gas to hydrogen and renewables as a pioneer in energy transformation.

We look forward to your continued support and guidance.

Takayuki UEDA
Representative Director, President & CEO
February 2022

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