September 28, 2009		Cosmo Oil Co., Ltd.

Commencement of Laffan Refinery Production in Qatar

Laffan Refinery Co., Ltd., in which "Cosmo Oil Co., Ltd." (President:Yaichi Kimura; Head office:Minato-ku, Tokyo) became a shareholder since in 2006, has commenced production from its Laffan Refinery on 23rd September 2009 which was built in Ras Laffan Industrial City of Qatar by Qatargas.

Laffan Refinery is the first condensate refinery in Qatar and it has a total processing capacity of 146,000 barrels per stream day (bpsd). The refinery's production capacity will be 61,000 bpsd of naphtha, 52,000 bpsd of kerojet, 24,000 bpsd of gasoil and 9,000 bpsd of LPG.

Laffan Refinery was built in line with the national strategy of Qatar aiming to add value to the condensate produced at Qatar North Field, which is the largest single non associated natural gas field in the world. The plant foundation stone was laid in April 2006, and it has commenced production this time.
And this refinery has been designed as an environmentally friendly facility and built in line with stringent environment standards. Especially, a waste water treatment system enables reuse of treated water in various operation of the refinery.

Cosmo has been purchasing crude oil from Qatar since 1970's. And also, we have been producing crude oil in Qatar through "Qatar Petroleum Development Co., Ltd."(Cosmo holds 85.8% of its shares) and "United Petroleum Development Co., Ltd." (Cosmo holds 35% of its shares). Through Cosmo Energy Exploration & Development Ltd, we participate in the Block 3 and Block 11 EPSA (Exploration and Production Sharing Agreement). By commencing this refining business, we will strengthen our partnership with the country, and will expand our business in Qatar in a broader spectrum including natural gas and petrochemical businesses.