ConocoPhillips (COP) is a major international integrated energy company. Its core business includes petroleum exploration, production; refining, marketing, supply and transportation; natural gas gathering, processing and marketing; chemicals and plastics production and distribution. ConocoPhillips is one of the largest energy companies in the United States of America, ranking No. 6 in the latest Fortune 500 companies.

ConocoPhillips is known worldwide for its technological expertise in deepwater exploration and production, reservoir management and exploitation, 3-D seismic technology, high-grade petroleum coke upgrading and sulfur removal. In addition, the company has two emerging businesses under development, which hold significant future potential – natural gas refining and power generation.

Conoco Inc. and Phillips Petroleum Company were merged to form ConocoPhillips in 2002. The new company has more than 200 years of experience in the energy industry and a rich history of discoveries and "firsts" that make it the world leader it is today.

ConocoPhillips China Inc. (COPC) is a wholly-owned subsidiary of ConocoPhillips with about 600 employees undertaking oil and gas exploration and production operations in China through cooperation with Chinese and international partners. In Bohai Bay, ConocoPhillips is developing China's largest offshore oilfield, the Peng Lai (PL) 19-3 field in the 1.6 million-acre Block 11/05. The PL19-3 Oil Field was discovered in Block 11/05 offshore Bohai in May 1999, through a joint effort of China National Offshore Oil Company (CNOOC) and ConocoPhillips. ConocoPhillips is the operator in the cooperative exploration and development of PL 19-3/25-6 Oil Fields in China’s Bohai Bay. Production from the first phase development of the PL 19-3 Oil Field began in December 2002. Gross production from PL 19-3 Phase I averaged approximately 25,000 BOPD. Phase I utilizes one wellhead platform and a leased floating production, storage and offloading facility (FPSO).

On January 17, 2005, the Overall Development Program (ODP) for Peng Lai (PL)
19-3 Oil Field Phase II and Peng Lai (PL) 25-6 Oil Field development was officially approved by the Chinese government and was listed as one of the key projects. Detailed design engineering and construction is in progress which is planned to include multiple wellhead platforms, central processing facilities and a new, larger FPSO. The Phase I platform will be tied into the new FPSO, which will be 300 plus meters long and capable of processing 190,000 barrels of oil per day. First production
from Phase II is anticipated during the first half of 2007 when a second well head platform will be tied into the existing FPSO. Production through the new FPSO is expected in late 2008.

In the South China Sea, COPC’s first offshore China field to go into production was Xijiang 24-3 in 1994. A year later, the second Xijiang field (30-2) came on stream. In 1997, COPC developed a satellite of the 24-3 field (24-1) using extended-reach drilling technology and setting several world drilling records in the process. Gross production from the Xijiang field averaged 72,500 BOPD in 2005. Since the first production in 1994, the accumulative gross production from Xijiang oilfields has reached 310 million barrels of oil as of December 31, 2005.

While developing business opportunities in China, ConocoPhillips attaches importance to protecting the environment, the safety of employees and the conduct of technology transfers. The Company has been making great efforts in supporting the education of young people in environmental protection through the Search for Solutions project. Philanthropic initiatives include the establishment of “Hope School” in Guangdong Province and sponsorship of the Badaling International Friendship Forest near the Badaling Great Wall. All of these efforts demonstrate ConocoPhillips’ tradition of contributing to the community in which the Company conducts business.

ConocoPhillips’ efforts and performance have been recognized by the Chinese Government. The company has also received a number of prizes and awards from Chinese Government and NGO. At present, COPC has offices in Beijing, Tanggu and Shekou.

Headquartered in Houston, Texas, ConocoPhillips operates in more than 40 countries. The company has approximately 38,000 employees worldwide.