fact sheet—march 2020

Other International and Exploration

Fact Sheet—March 2020

1

80%OECD

The Other International segment and Exploration function include a balanced, global portfolio of high-quality conventional and unconventional exploration opportunities.

ConocoPhillips has proved reserves of approximately 5.3 billion barrels of oil equivalent (BOE) and a large, diverse, low cost of supply resource base that provides the company with significant flexibility for future growth.

In 2019, ConocoPhillips’ exploration strategy emphasized flexibility and discovering new barrels accretive to its existing portfolio. The company’s 2019 exploration focused on select business units: Alaska, Lower 48, Canada, Norway and Malaysia — where existing infrastructure and experience can be leveraged. In addition to these focus areas, ConocoPhillips concentrates on international exploration opportunities that provide both scale and flexibility, with international new-venture activity ongoing in Latin America, including a new position in Argentina.

Other International and Exploration Fact Sheet—March 2020

ConocoPhillips—Undeveloped Acreage as of Dec. 31, 2019

2019 Proved Reserves by region

Proved reserves and resources reflect total company performance.

Natural gas resources targeted toward liquefied natural gas are depicted as LNG.

OECD refers to member countries of the Organisation for Economic Co-operation and Development.See page 7 for Cautionary Statement pertaining to the use of this Fact Sheet.

22%Asia Pacific &Middle East

11%Europe & North Africa

6%Canada

34%Alaska

27%Lower 48

2019 Proved Reserves5.3 BBOE

20%Non-OECD

2019 Resources40 BBOE

22%Natural Gas

70%Liquids

402019 Resources

Billionbarrels of oil equivalent

212019 Undeveloped Acreage

Millionnet acres

8%LNG

AreaGross

(Thousands of Acres)

Net(Thousands of Acres)

Alaska 1,331 1,320

Lower 48 10,337 8,396

Canada 3,270 1,798

Europe and North Africa 14,647 2,659

Asia Pacific and Middle East 13,633 6,575

Other International 1,400 742

ConocoPhillips Total 44,618 21,490



Alaska

Lower 48

2

AlaskaConocoPhillips is one of the largest owners of exploration leases in Alaska, with approximately 1.3 million net undeveloped acres at year-end 2019. In 2019, the company further strengthened its position in Alaska during the fourth quarter through a federal lease sale on the North Slope. ConocoPhillips was high bidder on three tracts for a total of approximately 33,000 net acres.

Kuparuk River Unit Operator: ConocoPhillips (94.5%)In 2019, the company acquired 21,000 acres of the Nuna discovery. The company plans to develop this resource by leveraging existing Kuparuk infrastructure. First oil is planned for 2022.

Bear Tooth UnitOperator: ConocoPhillips (100.0%)In 2016, ConocoPhillips drilled two exploration wells in the northeast portion of the NPR-A that encountered significant pay, making the Willow discovery. Appraisal of the discovery commenced in January 2017 with the acquisition of state-of-the-art 3-D seismic data. In 2018, the company appraised the greater Willow area with three additional wells and three tests. Evaluation continued throughout 2019 with five appraisal wells, with further appraisal of Willow planned in 2020.

Colville River Unit Operator: ConocoPhillips (100%)In late 2018, ConocoPhillips commenced appraisal of the Putu discovery in the Narwhal trend with a long-reach horizontal well from existing Alpine CD4 infrastructure. The Narwhal appraisal well finished drilling and testing in 2019. A supporting injector well was drilled in 2019 and will be tested in 2020.

Exploration of State and Federal LeasesConocoPhillips drilled the West Willow-1 exploration well to the west of the Bear Tooth Unit in 2018, resulting in an oil discovery. The West Willow-2 well was drilled in 2019 and appraised the oil discovery.

In 2018, ConocoPhillips drilled the Stony Hill-1 well on federal leasehold, resulting in an oil discovery.

Additionally in 2018, ConocoPhillips acquired a 3-D seismic survey on the state leasehold and continues evaluating this data.

Existing Business Units

The company will explore the Harpoon prospect located approximately 25 miles southwest of Willow, targeting the Brookian topset geological play.

Lower 48OnshoreConocoPhillips’ total onshore acreage position in the Lower 48 unconventional plays is approximately 1.7 million net acres. The onshore exploration focus areas include the Delaware Basin in the Permian as well as several emerging plays. The company continues to identify and assess other uncon-ventional opportunities.

B e a u f o r t S e a

A r c t i c O c e a n

Trans-Alaska Pipeline

N A T I O N A L P E T R O L E U M

R E S E R V E - A L A S K A

A L A S K AS T A T EL A N D S

0 50

M I L E S

Harpoon

Willow

Bear Tooth Unit

Greater Mooses Tooth Unit

Colville River Unit Kuparuk River UnitPrudhoe Bay Unit

WestWillow

Narw

hal

Nuna

Alpine

ConocoPhillips Acreage Pipeline Facility







0 50

M I L E S

Harpoon

Willow

Bear Tooth Unit



WestWillow

Narw

hal

Nuna

Alpine


PermianBasin

Eagle Ford

P a c i � cO c e a n

A t l a n t i cO c e a n

G u l f o f M e x i c o

ConocoPhillips Asset Areas

T E X A S

N E WM E X I C O

M I L E S

0 200







0 50

M I L E S

Harpoon

Willow

Bear Tooth Unit



WestWillow

Narw

hal

Nuna

Alpine




Malaysia

Canada

B R I T I S HC O L U M B I A

A L B E R T A

Calgary

Montney

250

M I L E S

ConocoPhillips Acreage

2000

M I L E S

B R I T I S HC O L U M B I A

A L B E R T A

Calgary

Montney

250

M I L E S


2000

M I L E S

KMEUCKME

KBB Cluster PSC

KBBMalikai

Gumusut

Salam

SNPS o u t h C h i n a S e a

SK313

SK304

WL4-00

Patawali1000

M I L E S

M A L A Y S I A

B R U N E IBenum

G

G

J

ConocoPhillips Acreage Oil Field Gas Field

KMEUCKME

KBB Cluster PSC

KBBMalikai

Gumusut

Salam

SNPS o u t h C h i n a S e a

SK313

SK304

WL4-00

Patawali1000

M I L E S

M A L A Y S I A

B R U N E IBenum

G

G

J

ConocoPhillips Acreage Oil Field Gas Field

3

CanadaOnshoreIn Canada, ConocoPhillips’ focus is on the Montney play in British Columbia. The company brought two exploration and appraisal wells onstream in 2017. During 2019, the company continued assessing its acreage position with drilling of additional uncon-ventional wells and continued coring up its acreage position by acquiring approximately 6,300 incremental net acres. At year-end 2019, the company held approximately 151,000 net acres in the play.

MalaysiaConocoPhillips operates three exploration blocks, Block SK304, Block SK313 and Block WL4-00, which are located offshore the eastern Malaysian state of Sarawak.

Block SK313Operator: ConocoPhillips (50.0%)Co-venturer: PETRONAS (50.0%)In 2017, ConocoPhillips acquired interest in Block SK313, a 0.7-million-net-acre exploration block offshore Sarawak, and assumed operatorship from PETRONAS following completion of the Sadok-1 exploration well. The company completed a 3-D seismic survey, but has no plans for further exploration activity in this block.

Block WL4-00Salam, Patawali and Benum oil discoveriesOperator: ConocoPhillips (50.0%) Co-venturer: PETRONAS (50.0%)In 2017, ConocoPhillips was awarded operatorship in Block WL4-00, which included the existing Salam-1 oil discovery and encompassed 0.3 million net acres. In 2018 and 2019, two exploration and two appraisal wells were drilled, resulting in oil discoveries that are under evaluation.

Block SK304Operator: ConocoPhillips (50.0%) Co-venturers: Kufpec (35.0%), PETRONAS (15.0%)In 2018, ConocoPhillips acquired interest in and operatorship of Block SK304, encompassing 1.0 million net acres offshore Sarawak. 3-D seismic was acquired in the same year and processing of this data was completed in 2019.



Hammerfest

Tromsø

Oslo

B a r e n t sS e a

S W E D E N

N O R W A Y

D E N M A R K

F I N L A N D

N o r w e g i a nS e a

N o r t hS e a

0 100

M I L E S

Visund

Aasta Hansteen

PL1009

PL1001

Trondheim

Troll

BergenOseberg

Alvheim

GranePL917PL782 S & SD

Stavanger

Greater Ekofisk Area

Heidrun

ConocoPhillips Acreage Jurisdictional Boundary

Hammerfest

Tromsø

Oslo

B a r e n t sS e a

S W E D E N

N O R W A Y

D E N M A R K

F I N L A N D

N o r w e g i a nS e a

N o r t hS e a

0 100

M I L E S

Visund

Aasta Hansteen

PL1009

PL1001

Trondheim

Troll

BergenOseberg

Alvheim

GranePL917PL782 S & SD

Stavanger

Greater Ekofisk Area

Heidrun

ConocoPhillips Acreage Jurisdictional Boundary

4

NorwayConocoPhillips has maintained an active presence in Norway since the early 1960s, and holds exploration licenses in the North Sea, Norwegian Sea and Barents Sea, with an exploratory acreage position covering 0.6 million net acres. In 2019, ConocoPhillips commenced a three-well operated exploration drilling program in the Norwegian North Sea.

Norway

PL782S BustaOperator: ConocoPhillips (40.0%)Co-venturers: Equinor (20.0%), AkerBP (20.0%), Wintershall DEA (20.0%)In 2015, ConocoPhillips was awarded operatorship of the PL782 S exploration license in the Norwegian North Sea. The Busta exploration well drilled in 2019 encountered hydrocarbons. The discovery will be further evaluated for future appraisal consideration.

PL917 EnnibergOperator: ConocoPhillips (40.0%)Co-venturers: Lundin (20.0%), Suncor (20.0%) Vår (20.0%)In 2018, ConocoPhillips was awarded operatorship of the PL917 exploration license in the Norwegian North Sea. The Enniberg exploration well drilled in 2019 encountered hydrocarbons, but the accumulation is not considered commercial.

Acreage additionsIn 2019, the company was awarded two new exploration licenses: PL1001 and PL1009, and one acreage addition, PL782 SD.



5

Other International

ColombiaMiddle Magdalena BasinVMM-3Operator: ConocoPhillips (80.0%)Co-venturer: CNE Oil & Gas S.A. (20.0%)In 2015, ConocoPhillips assumed operatorship of the VMM-3 Block, which extends over approximately 67,000 net acres. The block contains the Picoplata 1 well, which completed drilling in 2015. In 2017, ConocoPhillips completed production testing operations at the well and currently continues evaluating the block. ConocoPhillips has also completed an environmental impact study of the block. The block remains in force majeure.

VMM-2Operator: ConocoPhillips (80.0%)Co-venturer: CNE Oil & Gas S.A. (20.0%)In 2017, ConocoPhillips acquired interest and operatorship of the VMM-2 Block, which extends over approximately 58,000 net acres and is contiguous to the VMM-3 Block. ConocoPhillips has completed an environmental impact study of the block.

Bogota

2000

M I L E S


C O L O M B I A

M I D D L E M A G D A L E N A B A S I N

100

M I L E S

Picoplata-1

VMM3

VMM2

Facility

Bogota

2000

M I L E S


C O L O M B I A


100

M I L E S

Picoplata-1

VMM3

VMM2

Facility

Colombia



6

Other InternationalThe block remains in force majeure.

ChileCoironOperator: Empresa Nacional Del Petroleo (51.0%)Co-venturer: ConocoPhillips (49.0%)In 2015, ConocoPhillips acquired a non- operated 5 percent interest in the Coiron Block in the Magallanes Basin covering approximately 0.4 million gross acres. In 2016, ConocoPhillips drilled two exploration wells on the block and finalized an agreement to increase its non-operated interest to 49 percent.

ArgentinaEl Turbio EsteOperator: ENAP-Sipetrol Argentina (50.0%) Co-venturer: ConocoPhillips (50.0%)In 2019, ConocoPhillips received provincial government approval for a non-operated 50 percent participating interest in the El Turbio Este exploration block in the Santa Cruz province of Argentina covering approximately 0.8 million gross acres. A 3-D seismic survey was acquired and processed over part of the acreage, and evaluation of this data is ongoing.

Aguada FederalOperator: Wintershall DEA (45.0%) Co-venturers: ConocoPhillips (45.0%) , Gas y Petroleo de Neuquen (GyP) (10.0%)In 2019, the company received government approval for interest in this non-operated block in the Neuquén Basin. At the end of 2019, two horizontal wells were being tested in the Aguada Federal block.

Bandurria NorteOperator: Wintershall DEA (50%)Co-venturer: ConocoPhillips (50.0%)In 2019, the company received government approval for interest in this non-operated block in the Neuquén Basin. In Bandurria Norte, one vertical and four horizontal wells were tested and shut in during 2019.

2000

M I L E S

A R G E N T I N ACH

IL

E

400

M I L E S

A U S T R A L M A G A L L A N E S B A S I N

El Turbio Este

Coiron

100

M I L E S

N U E Q U E N B A S I N

AguadaFederalBandurria

Norte

A R G E N T I N A

C H I L E

Bogota

2000

M I L E S


C O L O M B I A


100

M I L E S

Picoplata-1

VMM3

VMM2

Facility

Chile and Argentina



7

Other Exploration

Australia Greater Poseidon (Browse Basin)WA-315-P, WA-398-P and TP-28Operator: ConocoPhillips (40.0%)Co-venturers: Origin Energy (40.0%), PetroChina (20.0%)We operate three exploration permits in the Browse Basin, offshore northwest Australia, in which we own a 40 percent interest in permits WA-315-P, WA-398-P and TP-28, located in the Greater Poseidon Area. Phase I of the Browse Basin drilling campaign resulted in three discoveries in the Greater Poseidon Areas and Phase II resulted in five additional discoveries.

Barossa and CalditaNT/RL5 and NT/RL6Operator: ConocoPhillips (37.5%)Co-venturers: Santos (25.0%), SK Energy (37.5%)The company operates two retention leases in the Bonaparte Basin, offshore northern Australia, where we own a 37.5 percent interest in the Barossa and Caldita discoveries. In April 2018, Barossa entered

the front-end engineering and design (FEED) phase of development, which continued through 2019.

During the FEED phase, costs and the technical definition for the project will be finalized, gas and condensate sales agreements progressed, and access arrangements negotiated with the owners of the Darwin LNG Facility and Bayu-Darwin Pipeline. During 2019 ConocoPhillips reached agreement to sell these assets, with transaction closing expected in 2020.

Otway BasinOperator: ConocoPhillips (75.0%)Co-venturer: 3D Oil (25.0%), In 2019, ConocoPhillips entered into an agreement with 3D Oil to acquire a 75 percent interest in and operatorship of T/49P, located in the Otway Basin offshore Tasmania. The farm-in is conditional upon agreement and signing of a Joint Operating Agreement by both parties and receipt of required government approvals.

IndonesiaKualakurunOperator: ConocoPhillips (60.0%)Co-venturer: PETRONAS (40.0%)ConocoPhillips entered the Central Kalimantan Kualakurun in 2015 with an exploration period of six years. The company completed the firm working commitment program in 2017, which included satellite mapping and a 740-kilometer 2-D seismic acquisition program. After completion of prospect evaluation, the joint venture decided to relinquish its rights and return this block to the government.

B A Y U - U N D A N

G R E A T E R P O S E I D O N

G R E A T E R S U N R I S E

B A R O S S A

C A L D I T A

T i m o r S e aDarwin LNG

N O R T H E R NT E R R I T O R Y

A U S T R A L I A

W E S T E R NA U S T R A L I A

1000

M I L E S

ConocoPhillips Acreage Gas Field Jurisdictional Boundary Pipeline Facility Well Location

B A Y U - U N D A N

G R E A T E R P O S E I D O N

G R E A T E R S U N R I S E

B A R O S S A

C A L D I T A

T i m o r S e aDarwin LNG

N O R T H E R NT E R R I T O R Y

A U S T R A L I A

W E S T E R NA U S T R A L I A

1000

M I L E S

ConocoPhillips Acreage Gas Field Jurisdictional Boundary Pipeline Facility Well Location

Australia

ConocoPhillips Acreage Gas Field Well Location

Barossa 5A Barossa 2

Lynedoch 1

Lynedoch 2

Barossa 4ST1

Barossa 3

Barossa 6

Barossa 1ST1



Segment Information

17(As of Dec. 31, 2019)

Operations and activities in 17 countries

Copyright ©2020 ConocoPhillips Company. All Rights Reserved.

CAUTIONARY STATEMENTThis fact sheet contains forward-looking statements. We based the forward-looking statements on our current expectations, estimates and projections about ourselves and the industries in which we operate in general. We caution you that these statements are not guarantees of future performance as they involve assumptions that, while made in good faith, may prove to be incorrect, and involve risks and uncertainties we cannot predict. In addition, we based many of these forward-looking statements on assumptions about future events that may prove to be inaccurate. Accordingly, our actual outcomes and results may differ materially from what we have expressed or forecast in the forward-looking statements. Economic, business, competitive and other factors that may affect ConocoPhillips’ business are set forth in ConocoPhillips’ filings with the Securities and Exchange Commission (including in Item 1A of our Form 10-K), which may be accessed at the SEC’s website at www.sec.gov.

Definition of resources: ConocoPhillips uses the term “resources” in this document. The company estimates its total resources based on a system developed by the Society of Petroleum Engineers that classifies recoverable hydrocarbons into six categories based on their status at the time of reporting. Three (proved, probable and possible reserves) are deemed commercial and three others are deemed noncommercial or contingent. The company’s resource estimate encompasses volumes associated with all six categories. The SEC permits oil and gas companies, in their filings with the SEC, to disclose only proved, probable and possible reserves. We use the term “resources” in this fact sheet that the SEC’s guidelines prohibit us from including in filings with the SEC. U.S. investors are urged to consider closely the oil and gas disclosure in our Form 10-K and other reports and filings with the SEC.

8

Corporate Information

Our Company Values

SSAFETY PEOPLE

PINTEGRITY

IRESPONSIBILITY

RINNOVATION

ITEAMWORK

T

Exploration Production

A R G E N T I N A

M A L A Y S I A

A U S T R A L I A

C O L O M B I A

C H I L E

SOUTH AMERICA

AFRICA

L I B Y A

I N D O N E S I A

ASIA

C H I N A

EUROPE

Timor Sea

Java Sea

Natuna Sea

SouthChina

Sea

Paci�c Ocean

Paci�c Ocean

Atlantic Ocean

Indian Ocean

NorthSea

NorwegianSea

Gulf of Mexico

BarentsSea

MIDDLE EAST

N O R W A Y

U N I T E DK I N G D O M

U N I T E D S T A T E S – A L A S K A

C A N A D A

NOR THAMERICA

T I M O R - L E S T E

S I N G A P O R E

C A M B O D I A

J A P A N

Q A T A R

Houston

Exploration Production Exploration and Production Headquarters

U N I T E D S T A T E S –L O W E R 4 8

Exploration, Subsurface and Other InternationalRichard Lunam

Contact InformationMedia Relations: 281-293-1149

Office Address 935 North Eldridge ParkwayHouston, Texas 77079

Chairman of the Board of Directors and Chief Executive OfficerRyan M. Lance

Investor Relations925 North Eldridge ParkwayHouston, Texas 77079Telephone: 281-293-5000www.conocophillips.com/investor [email protected]

Media Relations925 North Eldridge ParkwayHouston, Texas 77079Telephone: 281-293-1149www.conocophillips.com/[email protected]

ConocoPhillips925 North Eldridge ParkwayHouston, Texas 77079Telephone: 281-293-1000www.conocophillips.com

Exploration and Production

fact sheet—march 2020

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