Governance and Strategy

Governance

INPEX’s safety governance structure is detailed in Sustainability Structure under the heading of Governance.

Strategy

HSE Policy

First issued in November 2003, our Health, Safety and Environmental Policy is reviewed and updated every few years. We reissued it as “HSE Policy” in January 2025, and it sets out our policy and HSE-related initiatives. The executive officer in charge of HSE is responsible for these initiatives. Please refer to the HSE Policy on our website for details.

HSE Management System

To ensure implementation of the HSE Policy in our business activities, we adopted an HSE Management System (HSEMS) based on the International Association of Oil & Gas Producers (IOGP) OMS510¹ report, referencing the international standards ISO 9001, ISO 14001, and ISO 45001. Founded on the principles of leadership, risk management and continuous improvement, OMS510 is the foundation for improving the performance and effectiveness of our HSEMS.

Based on these principles, the HSEMS Standard sets forth essential structural requirements for implementing the HSEMS, including the preparation and revision of key HSE documents (rules, standards, guidelines, etc), the development of HSE organizations, as well as HSE-related technical support for each division, education and training, communication activities, and periodic audits and reviews.

¹IOGP Report No. 510 “Operating Management System Framework for controlling risk and delivering high performance in the oil and gas industry”

HSEMS Structural Diagram

The Nagaoka Field Office, our largest field office in Japan, obtained environmental certification ISO 14001 in FY2003 and has since maintained it in conjunction with our HSEMS.

Risks and Opportunities

The geopolitical landscape underscores the strategic importance of a stable energy supply in the transition to net zero. We aim to enhance our corporate value and grow as a sustainable energy supplier through HSE management across the INPEX Group. The risks and opportunities we can anticipate from a safety perspective are outlined below.

Risks: Personal injury, production stoppages, and construction delays due to explosion or fire at our drilling and production facilities

Opportunities: Development of a structure enabling stable supply through risk management to prevent major incidents

HSE Objectives and Programs

We set corporate-level HSE objectives annually to ensure the continuous improvement of our HSEMS and achieve Group-wide HSE management. We also develop and execute an annual HSE program that summarizes activities to achieve the key HSE objectives at each site as well as at the corporate level, and we manage progress toward achieving the objectives.

Our ultimate goal is to ensure all employees at worksites can return home each day free from injury. The safety of the employees and contractors involved in our projects is our top priority, so we manage safety risks through our HSEMS.

The main outcome from our corporate HSE activities in FY2024 was the improved communication between senior management and site personnel which was achieved through site visits and our Safety Month campaign. We also developed the foundation for improved safety metrics by promoting labor safety measures and process safety awareness-raising activities focused on the causes of incidents. Please refer to Metrics and Targets for the status of our HSE objective achievement in FY2024.

HSE objectives incorporating key safety measures for FY2025 are detailed below.

• Initiatives for Group-wide incident reduction to achieve zero major incidents
  • Ensure compliance with Life-saving Rules and implement safety measures at every site
  • Analyze incident trends and enhance measures for specific risks
  • Manage health, including mental health, at each location and maintain healthy and safe workplace environments
• Enhancement of Group-wide process safety management
  • Build mechanisms for improving process safety management competency and prepare for Group-wide implementation
  • Enhance process safety management by reviewing process safety management requirements and adopt them into the net zero businesses, etc.
• Establishment and implementation of HSE management in all business areas
  • Develop a roadmap for reorganizing HSEMS documents in response to business diversification, plan assurance activities and confirm the effectiveness of the HSEMS
• Enhancement of HSE communication by senior management
  • Facilitate regular HSE communication by senior management and leaders at our worksites