INPEX CORPORATION (INPEX) announced that it has agreed to sell, jointly with TotalEnergies, all shares in Angola Block 14 B.V. held by INPEX Angola Block 14 Ltd. (IAB14), a wholly owned subsidiary, to Somoil Block 14 B.V., a wholly owned subsidiary of Sociedade Petrolifera Angolana, S.A. Through IAB14, INPEX owned 49.99 percent of the shares in Angola Block 14 B.V., an affiliate company of TotalEnergies, thereby indirectly owning a 9.99 percent participating interest in Offshore Angola Block 14 (the Block) in the Republic of Angola and 4.99 percent participating interest in Lianzi field in the Offshore zone distributed equally between the Republic of Angola and the Republic of the Congo where it had participated in the development and production of crude oil.

INPEX joined the project in 2012, which contributed to the sustainable expansion of its upstream business operations through the development and production of multiple oil fields since discovered at the Block. However, the company reached its decision to sell the shares from the perspective of optimizing the INPEX Group’s asset portfolio, etc.

INPEX will proactively engage in energy structure reforms to contribute to the realization of a net zero carbon society by 2050 while continuing to fulfill its responsibilities for the stable development and supply of energy.

The impact of this matter on INPEX’s consolidated financial results is minimal.

About INPEX

INPEX CORPORATION is Japan’s largest exploration and production (E&P) company, and is currently involved in projects across multiple continents, including the Ichthys LNG Project in Australia as Operator. Through building a cleaner upstream business and advancing hydrogen and renewables solutions, INPEX aims to become a leading energy company and continue providing a stable and efficient supply of energy to its customers while pioneering energy transformation towards a net zero carbon society by 2050.

About TotalEnergies

TotalEnergies is a broad energy company that produces and markets energies on a global scale: oil and biofuels, natural gas and green gases, renewables and electricity. Our 105,000 employees are committed to energy that is ever more affordable, clean, reliable and accessible to as many people as possible. Active in more than 130 countries, TotalEnergies puts sustainable development in all its dimensions at the heart of its projects and operations to contribute to the well-being of people.