Japan Petroleum Exploration Co., Ltd.
Integrated Report
2021
For the Year Ended March 31, 2021
Index
Strategy | Value Creation Through | Initiatives to | Financial and Other Information | |||||||||||||||||||
Business Activities | Support Value Creation | |||||||||||||||||||||
The JAPEX Group's | E&P Business ������������ 23 | Sustainability Management........................ | 33 | Financial Highlights.................................... | 50 | |||||||||||||||||
Value Creation Process.............................. | 09 | Infrastructure/Utility Business | ����� 26 | Health, Safety and Environment (HSE)...... | 36 | Non-financial Highlights | 51 | |||||||||||||||
Special Feature: JAPEX2050 | New Business Development ������ 29 | Human Resource Development | Glossary * | 52 | ||||||||||||||||||
Toward a Carbon-Neutral Society | 10 | |||||||||||||||||||||
and Diversity ............................................. | 38 | |||||||||||||||||||||
Financial Data | 53 | |||||||||||||||||||||
• GHG Emission Reduction Targets | 11 | |||||||||||||||||||||
At a Glance................................................ | 04 | Health Management | ||||||||||||||||||||
Corporate Data | 83 | |||||||||||||||||||||
• Focused Efforts to Realize a | and Good Working Environment................ | 40 | ||||||||||||||||||||
President's Message ................................. | 05 | |||||||||||||||||||||
Carbon-Neutral Society | 12 | * Items marked by the book icon are explained in the | ||||||||||||||||||||
Risk Management...................................... | 41 | |||||||||||||||||||||
"Glossary" on page 52. | ||||||||||||||||||||||
• Interview with an Outside Director | 14 | |||||||||||||||||||||
Compliance and Respect for | ||||||||||||||||||||||
Climate Change Response........................ | 15 | Human Rights........................................... | 43 | |||||||||||||||||||
• Managing Executive Officer's | Corporate Governance.............................. | 44 | ||||||||||||||||||||
Message.............................................. | 15 | • Outside Director's Message................ | 45 | |||||||||||||||||||
Long-term Vision 2030 and Medium-term | ||||||||||||||||||||||
Business Plan 2018-2022.......................... | 18 | |||||||||||||||||||||
Results and Forecasts by Business for | ||||||||||||||||||||||
Disclosure Systems | ||||||||||||||||||||||
Medium-term Business Plan Targets | 19 | |||||||||||||||||||||
Finance & Accounting Dept. | ||||||||||||||||||||||
Business- and Finance-related Data | Non-financial Data | |||||||||||||||||||||
Director's Message | 20 | |||||||||||||||||||||
Integrated | Report | |||||||||||||||||||||
https://www.japex.co.jp/en/ir/library/integratedreport/ | ||||||||||||||||||||||
Editorial Policy | Organizations Covered by this Report | Note: From | this year's report forward, we will not issue a physical report, | |||||||||||||||||||
Since the fiscal year ended | March 31, 2016, we have issued our | This report covers Japan Petroleum Exploration Co., Ltd. (JAPEX), | ||||||||||||||||||||
only a | PDF version. | |||||||||||||||||||||
Corporate Report, which integrated the previous Annual Report | and its 18 consolidated subsidiaries and other Group companies. | |||||||||||||||||||||
and CSR Report. We have positioned this report as an important | ||||||||||||||||||||||
communication tool with all our stakeholders, including investors. | Reporting Period | |||||||||||||||||||||
From this year, we changed the name to the Integrated Report to | Fiscal 2020 started on April 1, 2020 and ended March 31, 2021. | Website | Website | |||||||||||||||||||
make clear its position as an integrated report. We aim to convey | Some statements include data before March 31, 2020 or after | IR | Sustainability | |||||||||||||||||||
in an easy to understand way information about our initiatives to | April 1, 2021. | |||||||||||||||||||||
sustainable enhance our corporate value while highlighting their | ||||||||||||||||||||||
connection to our financial | and non-financial data. | Issuing Date | ||||||||||||||||||||
In Integrated Report 2021, the special feature explores our car- | October 2021 (Next issue: October 2022) | |||||||||||||||||||||
bon neutral direction and objective JAPEX2050 that was | ||||||||||||||||||||||
announced in May 2021. We also enhanced explanations regard- | Disclaimer | |||||||||||||||||||||
ing the Company's mission of ensuring a stable energy supply, | This Integrated Report includes past and current facts about | |||||||||||||||||||||
risk management initiatives that support value creation, and | JAPEX and its affiliate firms, their plans and prospects as of the | |||||||||||||||||||||
corporate governance. | issuing date, as well as forecasts based on their business plans | |||||||||||||||||||||
Reference Guidelines | and corporate management policies. | |||||||||||||||||||||
These forecasts represent management's assumptions or deci- | ||||||||||||||||||||||
METI, "Guidance for Collaborative Value Creation" | sions based on information currently available. Readers should be | https://www.japex.co.jp/en/ir/ | https://www.japex.co.jp/en/sustainability/ | |||||||||||||||||||
The Value Reporting Foundation (VRF) | aware that actual results may differ from these forecasts due to | |||||||||||||||||||||
IIRC, "International Integrated Reporting | changes in the business environment. | |||||||||||||||||||||
Framework" |
JAPEX Integ ra ted Report 2021
Strategy | Value Creation Through Business Activities | Initiatives to Support Value Creation | Financial and Other Information | ||
Corporate Vision
Contribute to society through stable supply of
energy and address social issues towards the
Sustainable Development Goals.
Explore, develop, produce and distribute crude oil and natural gas at home and abroad.
Further strengthen the natural gas supply chain, built on our domestic infra- structure, by combining the electric power supply business.
Contribute to resolving energy and climate change related challenges towards a sustainable society through developing and commercializing new technolo- gies, drawing on our expertise.
Achieve sustainable growth and maximize corporate value, while placing top priority on maintaining trust with all stakeholders.
The JAPEX Group Code of
Ethics and Conduct
To realize our Corporate Vision and remain a company trusted by society, we hereby establish the JAPEX Group Code of
Ethics and Conduct, which provides corporate ethics standards and principles of action to be adhered to by all officers and employees.
- Comply with applicable laws and regulations, and respect international codes of conduct.
- Place top priority on HSE (health, safety and environment).
- Strive to maintain trust with stakeholders and to contribute to society.
- Respect the human rights of all people.
- Make efforts to create a good working environment.
- Engage in fair and free competition and maintain appropriate trading practices.
- Maintain sound and transparent relationships with politicians, political parties and government officials/agencies.
- Resolutely terminate any and all relationships with anti-social forces.
- Pay careful attention to managing and protecting confidential information and personal/clients' data.
JAPEX Integ ra ted Report 2021 | 0 1 |
Strategy | Value Creation Through Business Activities | Initiatives to Support Value Creation | Financial and Other Information | ||
Who We Are
JAPEX's History
Since its founding, JAPEX has focused on the stable supply of oil and natural gas and the development of E&P technologies.
- In light of changing structural energy demands, we will continue with our aim of growing into the Comprehensive Energy Company by promoting the creation of electric power and environmentally friendly businesses.
Started as a national policy concern to promote domestic oil and gas exploration
Put its business on track by | Expanded business regions | Aiming to grow as an | ||
successively discovering oil | and promoted business | comprehensive energy company | ||
fields in Japan | diversification | |||
1950s- | 1970s- | 1990s- | 2010s- |
1960s | 1980s | 2000s | |
1955 | Founded as a government-owned company by the | 1972 | Discovered the Aga-oki oil and gas field in Niigata, |
Law of Japan Petroleum Exploration Co., Ltd. | the first ever offshore oil field discovered since the | ||
1956 | Discovered the Biratori oil field in Hokkaido, the | establishment of Japex Offshore Ltd. | |
first oil field discovered by JAPEX (in production | 1989 | Discovered Yufutsu Oil and Gas Field in Hokkaido | |
from 1956 to 1961) | (In production from 1996) | ||
2003 Commenced commercial production of bitumen by the SAGD method in Hangingstone leases in Canada (Ended our operation in 2021)
2007 Participated in the Kangean Project in Indonesia
1996 Commenced operation of the Niigata-Sendai Gas Pipeline
2000 Commenced transportation of LNG tank containers on rail
1999 Contracted by the government for the Nankai Trough exploratory drilling business, the world's first marine methane hydrate survey
2008 Participated in funding Japan CCS Co., Ltd., which was established with the aim of creating practical applications for CCS technologies in Japan
2013 Participated in the Shale Gas Project in Canada (Ended our participation in 2021)
2013 Commenced production of crude oil at the Garraf project in Iraq
2014 Participated in the Seagull Project in the United | E&P |
Kingdom's North Sea | Business |
2014 Commenced operation of the mega solar project at the Hokkaido District Office
2018 Commenced operation of the Soma LNG Terminal
2020 Commenced commercial operation of the
Fukushima Natural Gas Power PlantInfrastructure/
Utility Business
2014 | Participated in funding Japan Methane Hydrate | |
Operating Co., Ltd., which was funded with the | ||
aim of participating in offshore drilling tests of | ||
pore-filling type methane hydrate | ||
2019 | Achieved our target of injecting 300,000 tons of | New Business |
CO2 in the Tomakomai CCS pilot test conducted | ||
through Japan CCS Co., Ltd. | Development |
JAPEX foundation ceremony | Aga-oki Platform | Niigata-Sendai Gas Pipeline | Bitumen produced through the steam-assisted | Fukushima Natural Gas Power | ||||||
gravity drainage process | Plant of the Fukushima Gas Power Co., Ltd. | |||||||||
JAPEX Integ ra ted Report 2021 | 0 2 |
Strategy | Value Creation Through Business Activities | Initiatives to Support Value Creation | Financial and Other Information | ||
Who We Are
JAPEX Our Strengths
JAPEX's three strengths comprise the JAPEX Group's comprehensive technical capabilities related to oil and gas exploration, development, production, transportation and sales; domestic infrastructure that undergirds the stable supply of natural gas; and trusted relationships with stakeholders that serve as the foundation of our business.
Technical capabilities | Application of technical capabilities in new | |
in the E&P Business | business development centered on CCS | |
Diverse gas supply network
• We provide a stable supply of LNG and natural gas, which offer low |
environmental burden, using diverse transportation methods, such |
• We possess comprehensive technical | • We are working to create environmentally friendly | ||
capabilities that can fully augment | renewable energy and other electric power | ||
the entire E&P Business. | CCS technology that contributes to society's | ||
leveraging the technologies and expertise | |||
E&P Business. | |||
For more information, see | P.25 | For more information, see | P.31 |
Operator capabilities in the entire oil and gas supply chain
- We possess operator capabilities that span the Group's entire supply chain, including the E&P Business, transportation, regasification of imported LNG, and natural gas power generation.
Operator capabilities in the entire oil and gas supply chain
The JAPEX
Group's
comprehensive
technical
capabilities
as JAPEX's own natural gas pipeline network and railway tank |
containers. |
Resilient domestic
infrastructure Resilient system for stable operation of infrastructure
- In the Shiunji Gas Field in Niigata Prefecture, we are storing domestic natural gas underground to help meet variable demand and ensure a stable supply of gas for emergencies.
- We are building a system for stable operation of infrastructure with- out major accidents or injuries. We have been able to ensure safety during crises, such as the Great East Japan Earthquake, achieving quick recovery and the restart of supply.
For more information, see P.28
Thorough safety and quality management
Exploration | Production | Delivery | |||||||||||
Geology | Imaging | Drilling | Surveys | Reservoir | Planning | Production | Transportationand | into | |||||
Supply | Covert Electricity | ||||||||||||
Seismic | Engineering | Borehole | Engineering | Facility | Engineering | ||||||||
Japan Petroleum Exploration Co., Ltd. | Fukushima Gas | ||||||||||||
Power Co., Ltd. | |||||||||||||
JGI, Inc. | Geophysical Surveying Co., Ltd. | Japex Offshore Ltd. | Japex Pipeline Ltd. | ||||||||||
SK ENGINEERING CO., Ltd. | North Japan Security Service | Akita Natural Gas Pipeline | |||||||||||
Co., Ltd. | Co., Ltd. | ||||||||||||
GEOSYS, Inc. | JAPEX SKS Corporation | Shirone Gas Co., Ltd. | |||||||||||
Group |
Relationships of
trust with
stakeholders
Environmental conservation initiatives
Contributing to local communities
Attractive workplaces of choice
- Since our founding, we have been able to build relationships of trust by contributing to local communities and holding dialogue with vari- ous stakeholders. These relationships have become the foundation of our business.
For more information, see P.33-40
JAPEX Integ ra ted Report 2021 | 0 3 |
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JAPEX - Japan Petroleum Exploration Co. Ltd. published this content on 24 December 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 23 December 2021 15:46:05 UTC.