Japan Petroleum Exploration Co., Ltd. is pleased to announce that, through its newly established wholly owned subsidiary, JAPEX UK E&P LIMITED, it has signed an agreement to acquire participating interests in four licences located in the UK North Sea from Apache North Sea Limited (“Apache”) in return for the payment of certain well and other costs. The four licences are P1621/P1622 (the Seagull prospect), P1998 (the Val D’Isere prospect), and P2001 (the Les Arcs prospect). Apache holds a 50% interest in the Seagull prospect and 60% interests in the Val D’Isere and Les Arcs prospects at the date of signing the agreement. Apache remains the designated operator of the Val D’Isere and Les Arcs prospects. Talisman Sinopec Energy UK Limited remains the designated operator of the Seagull prospect.

Apache Corporation, the parent company of Apache North Sea Limited, is an independent energy company that explores for, develops, and produces natural gas, crude oil and natural gas liquids. Apache Corporation and its subsidiaries currently have exploration and production interests in five countries: the U.S., Canada, Egypt, Australia and offshore the U.K. in the North Sea.

The Seagull prospect, the Val D’Isere prospect, and the Les Arcs prospect licences are located approximately 300km east of Aberdeen, in the North Sea, covering a total area of 306km2 with a water depth of around 100m. On the Seagull prospect, 3D seismic was acquired and one well has been drilling since January 2014. At the Val D’Isere and Les Arcs prospects, a 3D seismic survey is being reprocessed and one well is planned on each prospect in the future.

These transfers of interest in the UK North Sea are subject to United Kingdom Government and co-venturer approvals.

About Japex

Japan Petroleum Exploration Co., Ltd. (JAPEX) is engaged in oil and natural gas exploration and production (E&P) activities both in Japan and overseas. Its main operating areas are Hokkaido, Akita, Yamagata and Niigata in Japan. Overseas, JAPEX is active in Canada, Indonesia, Iraq and other regions where it has offshore interests. JAPEX was founded in December 1955 as a special-purpose company through a government initiative and has continued to explore and produce oil and natural gas in Japan while expanding its activities overseas. Between 1967 and 1970, JAPEX was incorporated into the Japan Petroleum Development Corporation (JPDC) as its E&P operating body. Thereafter, JAPEX was separated and re-established as a private-sector company under the former Commercial Code in April 1970. JAPEX listed on the First Section of the Tokyo Stock Exchange in December 2003.

About Apache

Apache Corporation is an oil and gas exploration and production company with operations in the United States, Canada, Egypt, the United Kingdom, Australia and Argentina.