ConocoPhillips China
  • Who We Are
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    Who We Are

    ConocoPhillips China, world’s largest independent E&P company, oil and gas exploration and production operations in China.

    Our Company

    ConocoPhillips China Inc. (COPC) is a wholly-owned subsidiary of ConocoPhillips undertaking oil and gas exploration and production operations in China. GO

    Our Vision In China

    Be the leading independent oil and gas supplier to the Chinese economy, delivering value to the people of China, local communities, investors, partners and employees through the application of our SPIRIT value. GO

    Business Ethics

    Business Ethics, Conduct & Policy. GO

    SPIRIT Values

    Our SPIRIT Values – Safety, People, Integrity, Responsibility, Innovation, Teamwork GO

    Clean Energy

    Secure and sustainable energy future of ConocoPhillips China. GO

    Our story in China

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  • Sustainable Development
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    Sustainable Development

    ConocoPhillips has proudly supported the sustainable development of China’s energy resources for more than 30 years.

    Our Commitment

    We are committed to delivering on our global commitment to economic growth, a healthy environment and vibrant communities across our operations in China. GO

    Commitment to the Bohai Sea

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    Our Approach

    ConocoPhillips promotes sustainable development by practicing five competencies: integration, stakeholder engagement, lifecycle management, knowledge management and innovation. GO

  • In Communities
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    In Communities

    ConocoPhillips China takes action for the good of the community.

    Education & Youth Development

    An important part of our business is the philanthropic work we undertake in our community, and education and youth programs are at the heart of it. GO

    Environment

    Our goal is to operate our businesses in a safe and environmentally friendly manner causing harm to no one, be they employees, contractors, customers, neighbors or communities. GO

    Disaster Relief

    ConocoPhillips China is ready to provide support to the communities that are badly impacted by natural disasters. We provided funds to Sichuan Wenchuan in 2008 and Qinghai Yushu in 2010 that were devastated by earthquakes. GO

    Health, Safety & Social Services

    Supporting organizations that connect citizens and families in need with basic human or social services to ensure their safety, health and well-being. GO

    Employee Volunteerism

    Embedded in the SPIRIT of ConocoPhillips' core values is a strong commitment to building a legacy of trust and enhancing the quality of life in the communities in which we live and operate. GO

    Bohai Environmental Sustainability Initiative

    ConocoPhillips is committed to supporting programs that enhance the marine environment and bring long-term benefit to China, with special focus on Bohai Bay and its communities. GO

ConocoPhillips Origin and Sinopec Sign Heads of Agreement for Australia LNG Project

February 25, 2011

HOUSTON - ConocoPhillips [NYSE:COP] today announced that Australia Pacific LNG Pty Ltd (“APLNG”) and China Petrochemical Corporation (“Sinopec”) have signed an agreement establishing non-binding key commercial terms for the supply of up to 4.3 million tonnes per annum (MTPA) of LNG for 20 years.

The agreement, known as a Heads of Agreement, also specifies terms under which Sinopec will subscribe for a 15 percent equity stake in APLNG, with ConocoPhillips and Origin Energy each reducing its interest to 42.5 percent. In addition to the signing of the Heads of Agreement, the APLNG project received Federal Environmental approval this week.

“We look forward to welcoming Sinopec into the APLNG project as an equity partner and foundation buyer of LNG,” said Jim Mulva, chairman and chief executive officer of ConocoPhillips. “With the underpinning of Sinopec, a world-class energy company, along with the recent approval of our EIS by the Australian authorities, we now expect project sanction by mid-year 2011, with the first LNG cargo to be delivered in 2015.”

Sinopec Signing

From left: Jim Mulva, Chairman & CEO, ConocoPhillips; Su Shulin, President, SINOPEC Group; Kevin McCann, Chairman, Origin

The Australia Pacific LNG project includes the development of Australia Pacific LNG’s substantial coal seam gas resources in the Surat and Bowen basins over a 30-year period, a 450 km transmission pipeline, and a multi-train LNG facility on Curtis Island, near Gladstone. Initial plans for the LNG facility are focused on developing two LNG trains, each with a nameplate capacity of approximately 4.5 MTPA of LNG.

Origin and ConocoPhillips have agreed, subject to certain milestones, that final investment decision payments on the first two trains for the project will be deferred until ConocoPhillips achieves an agreed cash internal rate of return on project investment, including acquisition cost, commensurate with similar type LNG projects.

“We look forward to not only working with but also being an integral part of the Australian communities in which we operate for decades to come,” Mulva said.

ConocoPhillips is an integrated energy company with interests around the world. Headquartered in Houston, the company had approximately 29,700 employees, $156 billion of assets, and $189 billion of revenues as of December 31, 2010. For more information, go to www.conocophillips.com.