ConocoPhillips (COP) is an international, integrated energy company. Its core business includes petroleum exploration and production; refining, marketing, supply and transportation; natural gas gathering, processing and marketing; chemicals and plastics production and distribution. ConocoPhillips is the third-largest energy company in the United States of America. Headquartered in Houston, Texas, ConocoPhillips operates in more than 30 countries. As of June 30, 2009, the company has approximately 30,000 employees worldwide.

ConocoPhillips is known worldwide for its technological expertise in exploration and production, reservoir management and exploitation, 3-D seismic technology and high-grade petroleum coke upgrading. In addition, the company is investing in several emerging businesses ¨C power generation; carbon-to-liquids; technology solutions; and emerging technologies such as renewable fuels and alternative energy sources ¨C that provide current and potential future growth opportunities.

ConocoPhillips China Inc. (COPC) is a wholly-owned subsidiary of ConocoPhillips with about 800 employees undertaking oil and gas exploration and production operations in China through cooperation with Chinese and international partners. At present, COPC has offices in Beijing, Tanggu and Shekou.

In¡¡Bohai Bay, ConocoPhillips is developing one of China's largest offshore oilfields, the Peng Lai 19-3 field¡¡in Block 11/05, which covers more than 800,000 acres (more than 3,200 sq. km). The PL19-3 Oil Field was discovered in May 1999, through a joint effort of CNOOC Ltd. and ConocoPhillips. ConocoPhillips is the operator. Production from the first phase development of the PL 19-3 Oil Field began in December 2002.

Development of the Peng Lai Phase II project is ongoing. This phase includes the installation of five additional drilling and production platforms and the construction of one of the largest FPSOs in the world today ¡ª the Peng Bo FPSO (also named ¡°Hai Yang Shi You 117¡± FPSO). The nearby Peng Lai 19-9 and 25-6 fields are being developed in conjunction with Phase II. Four of the five platforms have been installed and the Peng Bo FPSO started operations in May 2009. Production from Peng Lai oilfield continues to ramp up and is expected to reach approximately 69,000 BOPD net crude oil at plateau in 2011. In 2009, daily net crude oil production from Bohai Block 11/05 averaged approximately 33,000 BOPD.

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. The three oil fields are located about 80 miles from Hong Kong in the South China Sea and had combined average net crude oil production of 5,000 BOPD in 2009. Under the terms of the contract, our ownership rights in the 24-3 and 24-1 Fields ended in January 2010, and our rights in the 30-2 Field will end in November 2010.

With the completion of the Burlington Resources acquisition on March 31, 2006, ConocoPhillips China expanded its portfolio to include ownership in Block 15/34 in the South China Sea. This block contains three oil fields, Panyu 4-2, Panyu 5-1 and Panyu 11-6, operated by CNOOC Ltd., and the block produced 11,000 BOPD net crude oil in 2009.

While developing business opportunities in China, ConocoPhillips attaches importance to supporting the communities in which it operates; these activities include education support, protecting the environment, the safety of employees and their families and the conduct of technology transfers. The Company has been making great efforts in supporting the education of young people through various university programs and in environmental protection through the Search for Solutions project. Philanthropic initiatives include funding the Light & Love School in Beijing to support underprivileged children with basic education needs; Love and Hope Project in Tianjin area to provide financial support to children with congenital heart disease and sponsorship of the Badaling International Friendship Forest near the Badaling Great Wall.

ConocoPhillips¡¯ efforts and performance have been recognized by the general public. In 2003, COPC was nominated for the U.S. Secretary of State¡¯s Award for Corporate Excellence. In 2004, COPC received the first Guang Ming Daily Corporate Social Responsibility (CSR) Top 10 Company Award, In Oct. 2008, ConocoPhillips China received the Vanguard for Chinese People¡¯s Livelihood 2008 Award by the China Foundation for Poverty Alleviation and China Fortune Magazine for its excellence in demonstrating¡¡social responsibility and contributions.