Howard Weil37th Annual Energy

Conference

Jim MulvaChairman &

Chief Executive Officer

The following presentation includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended, which are intended to be covered by the safe harbors created thereby. You can identify our forward-looking statements by words such as “anticipates,” “expects,” “intends,” “plans,” “projects,” “believes,” “estimates,” and similar expressions. Forward-looking statements relating to ConocoPhillips’ operations are based on management’s expectations, estimates and projections about ConocoPhillips and the petroleum industry in general on the date these presentations were given. These statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions that are difficult to predict. Further, certain forward-looking statements are based upon assumptions as to future events that may not prove to be accurate. Therefore, actual outcomes and results may differ materially from what is expressed or forecast in such forward-looking statements.

Factors that could cause actual results or events to differ materially include, but are not limited to, crude oil and natural gas prices; refining and marketing margins; potential failure to achieve, and potential delays in achieving expected reserves or production levels from existing and future oil and gas development projects due to operating hazards, drilling risks, and the inherent uncertainties in interpreting engineering data relating to underground accumulations of oil and gas; unsuccessful exploratory drilling activities; lack of exploration success; potential disruption or unexpected technical difficulties in developing new products and manufacturing processes; potential failure of new products to achieve acceptance in the market; unexpected cost increases or technical difficulties in constructing or modifying company manufacturing or refining facilities; unexpected difficulties in manufacturing, transporting or refining synthetic crude oil; international monetary conditions and exchange controls; potential liability for remedial actions under existing or future environmental regulations; potential liability resulting from pending or future litigation; general domestic and international economic and political conditions, as well as changes in tax and other laws applicable to ConocoPhillips’ business. Other factors that could cause actual results to differ materially from those described in the forward-looking statements include other economic, business, competitive and/or regulatory factors affecting ConocoPhillips’ business generally as set forth in ConocoPhillips’ filings with the Securities and Exchange Commission (SEC), including our Form 10-K for the year ending December 31, 2008. ConocoPhillips is under no obligation (and expressly disclaims any such obligation) to update or alter its forward-looking statements, whether as a result of new information, future events or otherwise.

Cautionary Note to U.S. Investors – The U.S. Securities and Exchange Commission permits oil and gas companies, in their filings with the SEC, to disclose only proved reserves that a company has demonstrated by actual production or conclusive formation tests to be economically and legally producible under existing economic and operating conditions. We may use certain terms in this presentation such as “oil/gas resources,” “oil in place,”“recoverable bitumen,” “exploitable bitumen in place,” and “bitumen in place” that the SEC’s guidelines strictly prohibit us from including in filings with the SEC. The term “reserves,” as used in this presentation, includes proved reserves from Syncrude oil sands operations in Canada which are currently reported separately as mining operations in our SEC reports. Under amendments to the SEC rules, mining oil sands reserves will no longer be reported separately. U.S. investors are urged to consider closely the oil and gas disclosures in our Form 10-K for the year ended December 31, 2008.

This presentation includes certain non-GAAP financial measures, as indicated. Such non-GAAP measures are intended to supplement, not substitute for, comparable GAAP measures. Investors are urged to consider closely the GAAP reconciliation tables provided in the presentation Appendix.

FOR THE PURPOSES OF THE “SAFE HARBOR” PROVISIONSOF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995

CAUTIONARY STATEMENTCAUTIONARY STATEMENT

Strong global economic growth

Energy demand outpacing supply

Record commodity prices

A Year Ago – March 2008A Year Ago – March 2008

Cash flow in excess of optimal reinvestment levels

2008 share repurchases of $10 billion

Long-term production growth ~2%

100% reserve replacement

Business Environment

ConocoPhillips Outlook

The World Has ChangedThe World Has Changed

Financial Crisis

Global Downturn

SharpEquity

Declines

Energy Demand

Destruction

Commodity Price

Collapse

Credit Market

Collapse

Worst recession in recent history

No indication of a bottom

No confidence in markets

Adjusting to near-term environment, maintaining long-term view

-2

-1

0

1

2

3

4

5

6

2004 2005 2006 2007 2008 2009F 2010F

Declining Global Economic Growth & Oil DemandDeclining Global Economic Growth & Oil Demand

Source: Upper bound on forecast represents International Monetary Fund, January 2009. Bar represents range of other views.

Global Real GDPGrowth in Percent

Range of estimates

-2.0

-1.5

-1.0

-0.5

0.0

0.5

1.0

1.5

2.0

2.5

3.0

2004 2005 2006 2007 2008 2009F 2010F

EmergingDevelopedNet Change

MMbbls/day

Source: International Energy Agency & Deutsche Bank for 2010.

Global Oil DemandAvg. Annual Growth / Decline

Percent

Henry Hub Natural GasWTI Crude

$0

$20

$40

$60

$80

$100

$120

4/2008 4/2009 4/2010 4/2011 4/2012 4/2013$0

$2

$4

$6

$8

$10

$12

4/2008 4/2009 4/2010 4/2011 4/2012 4/2013

$/bbl $/mmbtu

Source: Platts, Goldman SachsCurrent Futures as of March 6, 2009

Sharp Declines in Commodity ExpectationsForward Curve Comparison

Sharp Declines in Commodity ExpectationsForward Curve Comparison

$0

$2

$4

$6

$8

$10

$12

$14

4/2008 4/2009 4/2010

USGC Crack Spread$/bbl

March 1, 2008Current

This is a severe bear market

S&P Index Historical ReturnsS&P Index Historical Returns

Source: Value Square Asset Management; International Center for Finance, Yale School of ManagementAs of March 6, 2009

2007200519941993 20061992 20041987 19881984 1986 2003

2000 1978 1979 19991990 1970 1972 19981981 1960 1971 19961977 1956 1968 19831969 1948 1965 19821962 1947 1964 19761953 1923 1959 1967 19971946 1916 1952 1963 19951940 1912 1949 1961 19911939 1911 1944 1951 1989

2001 1934 1906 1926 1943 19851973 1932 1902 1921 1942 19801966 1929 1899 1919 1925 19751957 1914 1896 1918 1924 19551941 1913 1895 1905 1922 1950

2009 YTD 1920 1903 1894 1904 1915 19452002 1917 1890 1891 1898 1909 19381971 1910 1887 1889 1897 1901 1936 1958 1954

2008 1930 1893 1883 1887 1892 1900 1927 1935 19331931 1937 1907 1884 1882 1881 1886 1880 1908 1928 1885

-50 to -40% -40 to -30% -30 to -20% -20 to -10% -10 to 0% 0 to 10% 10 to 20% 20 to 30% 30 to 40% 40 to 50% 50 to 60%

Operating performance according to plan

Commodity price declines

Lower income and cash flow

Share price decline (July 2008 – present)• ConocoPhillips -63%• LUKOIL -67%

Non-cash LUKOIL / goodwill impairments

Impact on ConocoPhillipsImpact on ConocoPhillips

Challenging Political EnvironmentChallenging Political Environment

Fiscal actions taken during high price environment unlikely to be reversed

Increased taxation / regulation proposed

Resource access remains constrained

Increased likelihood of climate change legislation

Alternative / renewable energy projects emphasized

0

1,000

2,000

3,000

4,000

5,000

6,000

7,000

8,000

Total U.S.GHG

Emissions

U.S.CombustionEmissions

U.S. Oil & GasOperationsEmissions

Natural Gas CombustionPetroleum CombustionCoal Combustion

2006 U.S. Greenhouse Gas EmissionsMillion Metric Tons CO2 Equivalent

Proposed U.S. oil & gas sector responsibility1

Sources: EPA, Inventory of U.S. Greenhouse Gas Emissions and Sinks: 1990-2006, April 2008; World Resources Institute, US GHG Emissions Flow Chart.1As proposed under S.2191 (Lieberman Warner)

Response to the Current EnvironmentResponse to the Current Environment

Adjusted operating plans and capital program

Implemented appropriate cost reduction

Focused on maintaining balance sheet strength and financial flexibility

Suspended share repurchase program

Increased engagement in public policy debate / formulation

Creation of an International, Integrated MajorCreation of an International, Integrated Major

Scope achieved over past decade:

• >50 BBOE captured resources

• >10 BBOE proven reserves

• 2.2 MMBOED production

• 3.0 MMBPD refining capacity

• 2008 revenues of $241 billion

• Operations in nearly 40 countries

Resources, reserves, production and refining capacity include LUKOIL

Paid Transaction Achieved Metric*

$7 BLegacy Upstream position in Alaska

Added proved reserves of 2 BBOE and 1.1 MM net exploration acres

Premise: $18/bblActual: $52/bbl

$5 B

$7 B

$34 B

Legacy Upstream position in CanadaAdded proved reserves of 1 BBOE and bolstered position in

SE Asia

Premise: $3.84/mcfActual: $6.57/mcf

Legacy U.S. Refining positionAdded 1.4 MMBPD refining capacity

Premise: $4.50/bblActual: $8.40/bbl

Highly competitive international, integrated majorCaptured $1.9 B in annual synergies

Premise: $20/bblActual:$61/bbl

Legacy Upstream position in North AmericaAdded 18.1 TCF (3 BBOE) to proved and probable reserves

(70% natural gas / 30% oil)

Premise: $7.77/mcfeActual: $9.24/mcfe

$7.5 B

Asset Swap

$4.7 B

Strategic alignment with Russian partnerCreates future investment options in Russia, Caspian and

Middle East

Premise: 1.8 BboeActual: 1.8 Bboe

Integrated North American heavy oil businessCreated two JVs with access to ~6.5 B BBLS gross

recoverable bitumen and refining capacity of 450+ MBPD

Premise: $45/bblActual: $86/bbl

Legacy Australasian natural gas businessCreated JV with access to estimated 42 TCF gross coal bed

methane resources1

$1.44/mcf for 3P resource$0.38/mcf for total resource

ARCO Alaska

$65 B in Strategic Transactions1999 – 2008

$65 B in Strategic Transactions1999 – 2008

Canada

LUKOIL

*Actual prices are full years after transaction closing through 2008. Oil and gas prices represent WTI and Henry Hub except Tosco, which represents GCC 3:2:1, and Origin, which represents transaction value.

1Includes 17 TCF of gross prospective resources. Price paid represents initial investment.

Organic Growth1999 – 2008

Organic Growth1999 – 2008

1Includes Phillips through Aug. 2002, ConocoPhillips from Sep. 2002 – Dec. 2008.

$73 billion invested in organic growth• Enabled resource capture, reserve

development, and expansion ofproduction base

• Increased refining capacity andconversion capability

Significant value toConocoPhillips’ shareholders• $13.5 billion returned via

dividends• $18 billion in share repurchases• Leading Shareholder Return

– ConocoPhillips1 12.0%– Peer average 7.7%– S&P 500 average (1.4)%

Strategic Objectives UnchangedStrategic Objectives Unchanged

Market position International, integrated energy major

Portfolio balance

70 - 75% E&P~20 - 25% R&M

5% in Midstream, Chemicals, Alternatives and Renewables

Capital program $12.5 billion (2009)

Dividend Competitive with peers

Cash and Income per BOE Competitive with peers

ROCE Improve relative position

Debt ratio 20% - 25%

5-year reserve replacement 100+%

Production Maintain near-term / Grow long-term

Migrating captured resources to proven reserves and production

Exploration & ProductionExploration & Production

2009 2010 2011 2012 2013 2014 2015 2016 2017 2018

>900 MBOED New Production

Oil

Gas

Oil Gas

>10 BBOE Proven Reserves

>50 BBOE Captured Resources2009 to 2013Five-year average reserve replacement 100+%

Converting reserves to new production

Improving margins through conversion capability and increased yields

Refining & MarketingRefining & Marketing

CrudeCapacity

CleanProducts

AdvantagedCrude

San FranciscoWood RiverWilhelmshavenYanbu Refinery

2008 Future Sweet Medium Sour Heavy Sour

2008 Future

OtherGasolineDistillate

Crude Advantage Product Yield

Investment Impacts

2009 Operational Objectives2009 Operational Objectives

E&P Production (ex LUKOIL) 1.8 million BOED

Reserve Replacement 100+%

Refining Crude Capacity Availability 95+%

Capital Program $12.5 billion

Cost Reduction 10+%

HSE Performance Improve employee and contractor TRR

Fund capital program

Disciplined cost management

Pay competitive dividends

Preserve balance sheet strengthand financial flexibility

2009 Financial Priorities2009 Financial Priorities

E&PR&MOther

AmericasAsia PacificEuropeMiddle East & AfricaRussia & Caspian

2009 By Segment

2009 Capital Program2009 Capital Program

2009 By Region

82%

16%2%

54%16%

15%

9% 6%

2005 2006* 2007 2008 2009Estimate

E&P R&M Other

11.9

16.4

12.9

19.9

12.5

$ Billions

*Excludes purchase price for Burlington Resources, but includes its capital program from purchase date of March 31, 2006 forward

62%75%

31%

63% 68% 62%

29%

25%

15%

18% 11% 26%

30% 16%

58%

22% 23% 13%

121%116%

104% 103% 102% 101%

BP RDS XOM CVX COP TOT Share Repurchase / CFOADividends / CFOACapex / CFOAPeer Average

70%

105%

77%

107%

82% 80%

35%

35%

21%19% 28%

24%105%

131%

108%101%

140%

98%

BP RDS XOM CVX COP TOT

Dividends/CFOACapital Program/CFOAPeer Average

Capex & Shareholder DistributionsCapex & Shareholder Distributions2006 – 2008 Average

Source: First Call estimates as of March 6, 2009, company filings and announcements

2009E

Peer avg. 109%Peer avg. 117%

Delivering competitive returns

10%

15%

22%

17%14% 15%

0%

5%

10%

15%

20%

25%

2003 2004 2005 2006 2007 2008

All companies Income adjusted to exclude certain non-core earnings impacts (based solely on publicly available information). Purchase accounting basis. See Appendix for additional information.

Peer Group

Return on Capital EmployedReturn on Capital Employed

Delivering competitive returns

7.089.97

14.79 13.76 12.19

18.44

0.00

5.00

10.00

15.00

20.00

25.00

2003 2004 2005 2006 2007 2008

1.26

2.39

3.59 3.854.50

2.40

0.00

1.00

2.00

3.00

4.00

5.00

2003 2004 2005 2006 2007 2008

$ / BOE $ / BBL

Peer Group

Financial Performance – Income per BOE/BBLFinancial Performance – Income per BOE/BBL

E&P R&M

E&P based on total BOE production. All companies Income adjusted to exclude certain non-core earnings impacts(based solely on publicly available information). See Tables 1 and 2 of Appendix for additional information.

Delivering competitive returns

11.6215.07

30.70

22.9622.35

20.60

0.00

5.00

10.00

15.00

20.00

25.00

30.00

35.00

2003 2004 2005 2006 2007 2008

1.883.06

4.283.16

5.16

4.64

0.00

1.00

2.00

3.00

4.00

5.00

6.00

2003 2004 2005 2006 2007 2008

$ / BOE $ / BBL

Financial Performance – Cash per BOE/BBLFinancial Performance – Cash per BOE/BBL

E&P based on total BOE production. All companies Income adjusted to exclude certain non-core earnings impacts (based solely on publicly available information). Cash Contribution is calculated as Income plus DD&A.See Tables 1 and 2 of Appendix for additional information.

E&P R&M

Peer Group

Competitive Dividend YieldCompetitive Dividend Yield

3% 2% 2% 2% 2%

4%

0%

5%

10%

2003 2004 2005 2006 2007 2008

Peer Group

Positioned to Create Shareholder ValuePositioned to Create Shareholder Value

Operating Excellence

Capital Discipline &

Project Execution

Financial Optimization

Shareholder Value

Shareholder Value

Portfolio of High-Quality Assets

Technology & Innovation

Competitive integrated, international energy firm

Consistent long term strategy

Managing through the downturn

Funding commitments and preserving optionality

Positioned for significant value creation as economy improves

Appendix

DefinitionsDefinitionsRESOURCEThe company uses the term “resources” in this presentation. The company has estimated its total resources based on a system developed by the Society of Petroleum Engineers. The system classifies recoverable hydrocarbons into six categories based on their status at the time of reporting – three deemed commercial and three deemed noncommercial. Within the commercial classification are proved reserves and two categories of unproved –probable and possible. The noncommercial categories are also referred to as contingent resources. The resource estimate encompasses volumes associated with all six categories.

NET RISKED RESOURCEThe estimate of potential hydrocarbon reserves discounted for subsurface chance of success, royalty, and working interest.

BITUMEN IN PLACEBitumen in place (gross before royalty) estimated to a zero contour for all pay horizons.

EXPLOITABLE BITUMEN IN PLACE Applies current economic cutoffs to total in place (gross before royalty) volumes for McMurray zone only.

RECOVERABLE BITUMEN Based on the 11.5 B BBL of exploitable bitumen in the McMurray and current technology. All bitumen estimates are provided by McDaniel & Associates Consultants Ltd. and represent 100% interest.

OIL IN PLACEThe total quantity of trapped oil believed to exist in a geologic feature or structure, based on the analysis of well information, geological, geophysical and petrophysical data.SWEET CRUDESulfur content less than or equal to 0.54 wt. %.

MEDIUM SOUR CRUDEAPI gravity between 24 and 30 degrees and sulfur content greater than 2.0 weight percent.

HEAVY SOUR CRUDEAPI gravity less than 24 degrees and sulfur content greater than 0.54 weight percent or API gravity less than 30 degrees and sulfur content greater than 2.0 weight percent.

Definitions (continued)Definitions (continued)

CAPITAL PROGRAMCapital Program includes capital expenditures and investments, loans to affiliates, and obligations to fund the upstream business venture with EnCana.

CAUTIONARY NOTE TO U.S. INVESTORSCautionary Note to U.S. Investors – The U.S. Securities and Exchange Commission permits oil and gas companies, in their filings with the SEC, to disclose only proved reserves that a company has demonstrated by actual production or conclusive formation tests to be economically and legally producible under existing economic and operating conditions. We may use certain terms in this presentation such as “oil/gas resources,” “oil in place,”“recoverable bitumen,” “exploitable bitumen in place,” and “bitumen in place” that the SEC’s guidelines strictly prohibit us from including in filings with the SEC. The term “reserves,” as used in this presentation, includes proved reserves from Syncrude oil sands operations in Canada which are currently reported separately as mining operations in our SEC reports. Under amendments to the SEC rules, mining oil sands reserves will no longer be reported separately. U.S. investors are urged to consider closely the oil and gas disclosures in our Form 10-K for the year ended December 31, 2008. U.S. investors are urged to consider closely the disclosures in the company’s 2008 Form 10-K, File No. 001-32395, available from the company at 600 N. Dairy Ashford, Houston, Texas 77079, and the company’s web site at www.conocophillips.com/investor/sec.htm. The 2008 Form 10-K can also be obtained from the SEC by calling 1-800-SEC-0330.

Table 1

COP Non-GAAP ReconciliationsCOP Non-GAAP Reconciliations2003 2004 2005 2006 2007 2008

GAAP E&P Net Income - $MM 4,302 5,702 8,430 9,848 4,615 (13,479)GAAP E&P Net Income - $ / BOE 7.33 9.97 14.79 13.78 6.73 (20.59)

non-core earnings impacts - $MMgains and (losses) on asset dispositions 565 590asset impairments (118) (4,752) (26,070)tax legislation / regulatory / other 142 (4) 133 436 (71)

E&P Income - $ / BOE 7.08 9.97 14.79 13.76 12.19 18.44E&P DD&A - $ / BOE 4.54 5.10 5.81 8.59 10.77 12.26E&P Cash Contribution - $ / BOE 11.62 15.07 20.60 22.35 22.96 30.70

2003 2004 2005 2006 2007 2008GAAP R&M Net Income - $MM 1,272 2,743 4,173 4,481 5,923 2,322GAAP R&M Net Income - $ / BBL 1.14 2.39 3.52 3.53 5.00 2.09

non-core earnings impacts - $MMgains and (losses) on asset dispositions 339 224asset impairments (441) 112 (550)tax legislation / regulatory / other (125) (83) 34 141 (24)

R&M Income - $ / BBL 1.26 2.39 3.59 3.85 4.50 2.40R&M DD&A - $ / BBL 0.62 0.67 0.69 0.79 0.66 0.76R&M Cash Contribution - $ / BBL 1.88 3.06 4.28 4.64 5.16 3.16

2003 2004 2005 2006 2007 2008GAAP ROCE 10% 15% 23% 17% 11% -17%

non-core earnings impacts - $MMgains and (losses) on asset dispositions 306 904 814asset impairments (559) (4,640) (34,145)tax legislation / regulatory / other 142 (22) (111) 167 639 (64)

Goodwill impairment equity adjustment - $MM - - - - - 25,443

ROCE 10% 15% 22% 17% 14% 15%

COP Non-GAAP ReconciliationsCOP Non-GAAP Reconciliations

Table 2

For Peer Companies, Cash Contribution is calculated as adjusted Income plus DD&A for each full year 2003 through 2008.For 2008, RDS and TOT DD&A data has not yet been made public by E&P and R&M segments, so 2008 Peer Company DD&A splits bysegment have been made based on year end 2007 DD&A segment weightings as applied to 2008 total company DD&A expense.

2003 2004 2005 2006 2007 2008GAAP E&P CFOA - $MM 7,751 9,109 12,126 16,978 16,228 20,976GAAP E&P CFOA - $ / BOE 13.20 15.92 21.27 23.77 23.65 32.04

excluded GAAP items - $MMnon-cash working capital 356 221 31 244 393 389non-working capital adjustments* 573 267 350 770 78 488

E&P Cash Contribution - $ / BOE 11.62 15.07 20.60 22.35 22.96 30.70

2003 2004 2005 2006 2007 2008GAAP R&M CFOA - $MM 2,208 2,671 4,914 4,625 6,757 1,903GAAP R&M CFOA - $ / BBL 1.99 2.32 4.14 3.65 5.70 1.71

excluded GAAP items - $MMnon-cash working capital (104) (702) 267 (1,095) 1,188 (1,294)non-working capital adjustments* 225 (142) (427) (172) (546) (314)

R&M Cash Contribution - $ / BBL 1.88 3.06 4.28 4.64 5.16 3.16

*Includes items such as deferred tax, accretion on discounted liabilities, and undistributed equity earnings

Peer Capital Employed Peer Capital Employed

XOM CVX BP TOT**

Equity issued for purchase* 72,795 35,690 49,091 65,055

Less: Equity of companies acquired (19,015) (14,330) (15,682) (20,458)

Excess Capital Employed under 53,780 21,360 33,409 44,597Purchase Accounting

Peer Group: ExxonMobil, Chevron, BP, TOTAL and Royal Dutch Shell (note: no adjustments for Shell)

* Based on the number of shares issued in the transaction and the average price two days before and two days after

the deals were announced

** Shown in Euros

Table 3

North America ProgramsNorth America Programs

AreaWorkingInterest1

Acreage2

‘000 Acres

2008 Production(MBOED)

San Juan Basin ~80% 1,300 192

Permian Basin ~87% 310 50

Lobo ~90% 450 47

O’Chiese ~70% 640 26Foothills ~55% 460 14Northern Plains ~60% 820 17

Panhandle / Anadarko ~80% 1,500 41

Barnett ~94% 110 16

Kaybob ~60% 560 23

Grande Prairie ~55% 590 24

Central & Southern Plains ~70% 2,400 63

Bossier ~100% 80 24

Lower 48

Elmworth ~85% 990 36

Edson ~80% 500 17

Canada

1 Working interest is calculated based on average net working interest in the area at December 31, 20082 Acreage is total net acreage at December 31, 2008

Major ProjectsMajor Projects

Start-Up

Region Significant Project WI%Gross Peak Production

MBOED

Current Project Phase

Canada Foster Creek 1D 50 30 1 Construction

Asia Pacific Bohai Phase II 49 173 Construction

Qatargas-3 30 263 Construction

Libya – Faregh 2 16 36 ConstructionMiddle East / NorthAfrica

Su Tu Den Northeast 23 32 Construction

Foster Creek 1E 50 30 1 Construction

North Belut 40 64 Construction2009-2010

COP operated

1 Represents operator's forecasted plant capacity and SOR

Major ProjectsMajor Projects

Start-Up

Region Significant Project WI%Gross Peak Production

MBOED

Current Project Phase

Asia Pacific Suban 3 54 33 OptimizeSouth Sumatra 54 24 AppraiseKebabangan 30 1 145 Optimize

Gumusut-Kakap 33 129 ConstructionSunrise 30 148 AppraiseAPLNG 50 2 364 3 AppraisePanyu 25 42 Appraise

Block B – Future fields 40 20 AppraisePetai 35 38 AppraiseUbah 35 58 Appraise

Kamunsu East 30 60 Appraise

2011+

Malikai 35 47 Optimize

Su Tu Nau 23 25 Appraise

1 Jointly operated2 COP to operate the downstream LNG plant; Origin to operate upstream development3 Based on 4 LNG train development

COP operated

Major ProjectsMajor Projects

Start-Up Region Significant Project WI%

Gross Peak Production

MBOED

Current Project Phase

Canada Christina Lake C 50 40 1 ConstructionChristina Lake D 50 40 1 Define

Surmont 2 50 84 OptimizeSurmont 3-6 50 254 Optimize

Saleski 100 110 AppraiseChristina Lake E & F 50 80 1 Appraise

Foster Creek 1F & 1G 50 60 1 Appraise

Thornbury 1-2 100 92 OptimizeClyden 1 100 46 Appraise

Parsons Lake 75 56 OptimizeAmaugliak 51 210 Appraise

2011+

1 Represents operator's forecasted plant capacity and SOR

COP operated

Major ProjectsMajor Projects

Start-Up Region Significant Project WI%

Gross Peak Production

MBOED

Current Project Phase

Alaska ANS Gas 36 660 AppraisePrudhoe WRD 1 36 22 Define

Kuparuk Viscous Oil 2 56 23 Appraise / Define

Mooses Tooth Oil & Fiord West 78 30 Appraise

Algeria – El Merk (EMK) 17 60 ConstructionShah Gas Project 40 TBD 3 Optimize

Middle East / NorthAfrica

Libya - NC98 16 80 - 120 AppraiseLibya - North Gialo 16 80 - 120 Appraise

Libya – Further Waha Development 13 80 - 120 Appraise

2011+

1 Includes IPAD and Gas Partial Processing projects2 Includes North East West Sak & Ugnu3 To be defined

COP operated

Major ProjectsMajor ProjectsStart-

UpRegion Significant Project WI%

Gross Peak Production

MBOED

Current Project Phase

North Sea Jasmine 37 85 Appraise

Ekofisk South 35 71 Optimize

Eldfisk II 35 75 Optimize

Russia / Caspian Kashagan Phase 1 8 450 1 Construction

West Africa NLNG Train 6 supply 20 49 Construction

Uge 20 79 Appraise

Tor Redevelopment 31 42 Appraise

Kashagan Phase 2+ 8 1,050 Optimize

Tommeliten 28 53 Appraise

Clair II 24 100 Appraise

Kalamkas 8 77 Appraise

Aktote 8 75 Appraise

Kairan 8 65 Appraise

2011+

COP operated

1 Represents operator's forecasted plant capacity