Fact Sheet—March 2016

1

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

ConocoPhillips has proved reserves of approximately 8.2 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 mid-2015, ConocoPhillips announced plans to reduce future spending on deepwater exploration and is currently pursuing a phased exit. This decision will provide increasing capital flexibility over time. The company continues to assess high-quality conventional and unconventional exploration opportunities that will underpin long-term, organic growth plans.

In December 2015, the company completed the sale of its interest in the Polar Lights joint venture and exited Russia.

Other International and Exploration Fact Sheet—March 2016

See page 8 for Cautionary Statement pertaining to the use of this fact sheet.

1 ConocoPhillips’ interest in Polar Lights was sold in December 2015.

42015 Production

Thousandbarrels of oil equivalent per day

302015 Undeveloped Acreage

Millionnet acres

ConocoPhillips—Average Daily Net Production, 2015

Crude Oil NGL Natural Gas TotalArea Interest Operator (MBD) (MBD) (MMCFD) (MBOED)

Polar Lights1 50.0% Polar Lights Company 4 – – 4

Russia Total 4 – – 4

Other International Total 4 – – 4

2015 Other International Production Mix 2015 Other International Production 2015 Other International Capital Expenditures and Investments

MBO

ED

$ M

illio

ns

4Q3Q2Q1Q

100%Crude Oil

Production CapitalProduction Capital

4Q

3

83

43

12

35

3Q

444

2Q1Q

2

Unconventional Exploration

CanadaIn Canada, the Montney, Muskwa and Duvernay plays form the primary interest areas. As of Dec. 31, 2015, the company held approximately 0.7 million net acres in unconventional exploration plays. During 2015, the company continued to drill exploration and appraisal wells in the Montney play, which extends from British Columbia into Alberta, and completed a lease swap in the Muskwa play.

United StatesThe company’s onshore focus areas in the United States include the Niobrara in the Denver-Julesburg Basin, and the Wolfcamp and Bone Springs in the Delaware Basin as well as several emerging plays. The company’s total acreage position in Lower 48 unconventional plays is approximately 2.6 million net acres. During 2015, the company drilled 21 operated unconventional wells in the Delaware Basin. In 2016, ConocoPhillips

will continue to explore and appraise this unconventional play, and assess new unconventional opportunities.

ColombiaMiddle Magdalena Basin• VMM-3

Operator: ConocoPhillips (80.0%)Co-venturer: Canacol (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 was drilled in 2014 and 2015. Continued evaluation and testing of the well is planned in 2016.

• VMM-27 and VMM-28 The company holds a 30 percent nonoperated interest in the VMM-27 and VMM-28 blocks , which are in the process of being relinquished.

• Santa Isabel Operator: : Canacol (30.0%)Co-venturer: ConocoPhillips (70.0%)ConocoPhillips holds a 70 percent nonoperated interest in the deep rights in the Santa Isabel Block in the Middle Magdalena Basin, which covers approximately 71,000 net acres.

COLOMBIA

Bogota

2000

Miles

ConocoPhillips Acreage

Middle Magdalena Basin

150

Miles

Colombia

COLOMBIA

Bogota

2000

Miles


Middle Magdalena Basin

150

Miles

Other International and Exploration

Fact Sheet—March 2016

3

Conventional Deepwater Exploration

In mid-2015, ConocoPhillips announced plans to reduce future spending on deepwater exploration and is currently pursuing a phased exit. This decision will provide increasing capital flexibility over time, but has a minimal impact on 2016 exploration activity.

The company has interests in several deepwater basins including the Gulf of Mexico, Canada, Brunei, Malaysia, Angola and Senegal.

ConocoPhillips Acreage Appraisal Exploration

TEXAS

LOUISIANA

MISSISSIPPI ALABAMA

-1,000’

-5,000’

-10,000’

-10,000’

-5,000’

-1,000’

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

Miles

0 50

Horus

Planned WI: 50%Operated

WI: 30%Nonoperated

Gibson

WI: 65%Operated

Melmar

Planned WI: 50%Operated

Socorro

Tiber

WI: 18%Nonoperated

Shenandoah

WI: 30%Nonoperated

Keathley Canyon

allows all three companies to combine technical strengths and financial resources to achieve efficiency through scale, reduce subsurface risk and improve the likelihood of commerciality.

The nonoperated Gibson and ConocoPhillips-operated Melmar exploration wells began drilling in late 2015. The company also expects to drill the Horus and Socorro exploration wells during 2016.

2016 Deepwater Gulf of Mexico Exploration and Appraisal Program

Gulf of MexicoConocoPhillips’ total Gulf of Mexico acreage position at year-end 2015 was approximately 1.8 million net acres.

During 2015, the company conducted appraisal drilling at Shenandoah and Tiber. In early 2015, ConocoPhillips signed an agreement with BP and Chevron to jointly explore and appraise a 24-block area in Keathley Canyon, including the Gibson prospect and Tiber discovery. The agreement

ConocoPhillips Acreage Appraisal Exploration

TEXAS

LOUISIANA

MISSISSIPPI ALABAMA

-1,000’

-5,000’

-10,000’

-10,000’

-5,000’

-1,000’

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

Miles

0 50

Melmar

Operated

Vernaccia

WI: 33%NonoperatedHarrier

Operated

WI: 30%Nonoperated

Gila/GibsonTiber

WI: 18%Nonoperated

Shenandoah

WI: 30%Nonoperated

Keathley Canyon


4

5000

Miles

B e a u f o r tS e a

L a b r a d o rS e a

ALBERTA

YUKON

ALASKA

NORTHWESTTERRITORIES

BRITISHCOLUMBIA

NUNAVUT

MANITOBA


Halifax

St. John’s

FrenchCorridor

2000Miles

Atlantic Canada

Atlantic Canada


CanadaNova ScotiaOperator: Shell (50.0%) Co-venturers: ConocoPhillips (30.0%), Suncor (20.0%) During 2014, ConocoPhillips entered into a farm-in agreement to acquire a 30 percent nonoperated interest in six exploration licenses covering approximately five million gross acres in the deepwater Shelburne Basin, offshore Nova Scotia. In the fourth quarter of 2015, the company spud the Cheshire well, the first of a two well exploration commitment offshore Nova Scotia. The second exploration well is expected to spud in the second quarter of 2016.

NewfoundlandOperator: ExxonMobil (40.0%)Co-venturers: ConocoPhillips (30.0%), Suncor (30.0%)In December 2014, ConocoPhillips participated in a successful bid for one exploration license covering 0.7 million gross acres in the Flemish Pass Basin, offshore Newfoundland. In January 2015, the company was awarded a 30 percent nonoperated interest in the license. A 3-D seismic survey of the subsurface was completed in 2015.

BruneiBlock CA-2Operator: PETRONAS (45.0%)Co-venturers: Murphy (30.0%), Shell (12.5%), ConocoPhillips (6.25%), Mitsubishi (6.25%)ConocoPhillips holds a working interest in deepwater Block CA-2 production sharing contract (PSC), with an exploration period through December 2018.

Exploration has been ongoing since September 2011, with natural gas discovered at the Kelidang NE-1 and Keratau-1 wells in 2013, and the Keratau SW-1 well in 2015. Evaluation of the results is ongoing.

Brunei

MALAYSIA

BRUNEI

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

500

Miles

CA-2Kelidang NE

Keratau

Bandar SeriBegawan

Miri

ConocoPhillips Acreage Gas Field

MalaysiaConocoPhillips’ involvement in Malaysia began in 2000 and consists of interests in four blocks in varying stages of exploration, development and production. Three of these blocks are located off the eastern Malaysian state of Sabah: Block G, Block J and the Kebabangan (KBB) Cluster. These three blocks include seven discovered fields. The fourth block, Deepwater Block 3E, is operated by ConocoPhillips and is located offshore Sarawak.

Block GLimbayongOperator: Shell (40.0%) Co-venturers: ConocoPhillips (40.0%), PETRONAS (20.0%) The Limbayong-1 well was drilled in 2002 and resulted in a gas discovery. The Limbayong Gas Holding Area was established in 2009 covering acreage in blocks G and J. The Limbayong-2 appraisal well was drilled in November 2013 and resulted in an oil discovery. Review of development options for this oil discovery, and the previous gas discovery, is underway.

Deepwater Block 3EOperator: ConocoPhillips (50.0%) Co-venturers: KUFPEC (35.0%), PETRONAS (15.0%)In November 2013, ConocoPhillips was awarded operatorship of this 480,000-gross-acre exploration block offshore Sarawak. Seismic processing and reprocessing were completed in 2015, with drilling currently planned for 2016 to 2017. During the fourth quarter of 2015, ConocoPhillips farmed out a 35 percent interest in the block to KUFPEC.

Kebabangan (KBB) ClusterKebabangan, Kamunsu East and Kamunsu East Upthrown Canyon Operator: Kebabangan Petroleum Operating Company Co-venturers: PETRONAS (40.0%), ConocoPhillips (30.0%), Shell (30.0%)The KBB Cluster PSC was signed in 2007 for appraisal and development of the Kebabangan (currently producing), Kamunsu East and Kamunsu East Upthrown Canyon gas and condensate fields. The Kamunsu East-2 appraisal well was drilled in September 2013, resulting in a gas discovery.

MALAYSIA

BRUNEI

G

G

J

KME

KBB Cluster PSC

KBB

Malikai

Gumusut

SNP

L imbayong

Pisagan

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

1000

Miles

KBB Clus

Kota Kinabalu

3E

Malaysia

ConocoPhillips Acreage Oil Field Gas Field

5

AngolaBlock 36Operator: ConocoPhillips (50.0%) Co-venturers: Sonangol (50.0%)

Block 37Operator: ConocoPhillips (30.0%) Co-venturers: Sonangol (50.0%), Repsol (20.0%)ConocoPhillips has interests in Block 36 and 37, offshore Angola. The two blocks total approximately 2.5 million gross acres in water depths ranging from approximately 5,600 feet to 8,200 feet.

In 2015, ConocoPhillips drilled the Omosi-1 and Vali-1 wells in Block 37 to test different play types in the Kwanza Basin. Both wells were deemed to be non-commercial and were expensed as dry holes in 2015.

Angola

36

37

ANGOLA

Luanda

200

Miles

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


AFRICA

SenegalRufisque, Sangomar and Sangomar DeepOperator: Cairn Energy (40.0%)Co-venturers: ConocoPhillips (35.0%), FAR (15.0%), Petrosen (10.0%)In 2013, ConocoPhillips farmed into three blocks offshore Senegal. The FAN-1 and SNE-1 exploration wells were drilled in 2014. The oil discoveries opened a new basin on the Atlantic Margin.

The FAN-1 well, located in the Sangomar Deep Block, encountered a gross oil bearing interval of more than 500 meters. The second exploration well, SNE-1, confirmed hydrocarbons approximately 15 miles away.

The two discoveries are currently being evaluated and an exploration and appraisal drilling program commenced in the fourth quarter of 2015. The first well in this program, SNE-2, confirmed the accumulation and was successfully flow tested in the fourth quarter of 2015.

ConocoPhillips has the option to become operator if the project advances to development.

36

37

ANGOLA

Luanda

200

Miles

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


AFRICA

Senegal

ConocoPhillips AcreageConocoPhillips Acreage

AFRICAMAURITANIA

MALI

GUINEA

SENEGAL

GAMBIA

GUINEA-BISSAU

Ru�sque

Sangomar

SangomarDeep

2500

Miles

Well


6

Other Conventional Exploration

AlaskaNPR-A Two exploration wells within the GMT Unit were drilled in 2014—Rendezvous 3 and Flattop-1. The Rendezvous 3 well was flow tested and development plans are currently under evaluation. Flattop-1 encountered hydrocarbons, but was expensed. The well is temporarily abandoned and available for testing in the future. Additional exploration wells are planned in the GMT Unit in 2016.

In 2013, the company drilled and flow tested a new oil discovery at the Cassin prospect in the Bear Tooth Unit in the northeast NPR-A. The discovery is currently being evaluated for further development potential.

GreenlandBaffin BayOperator: ConocoPhillips (87.5%)Co-Venturers: Nunaoil (12.5%)In 2015, ConocoPhillips conducted met-ocean studies in Baffin Bay on the ConocoPhillips nonoperated Qamut license.

North East GreenlandOperator: Statoil (52.5%)Co-Venturers: ConocoPhillips (35%), Nunaoil (12.5%)ConocoPhillips purchased 2-D seismic as part of the planned work program in the nonoperated Avinngaq license. In the fourth quarter of 2015, the company initiated the process to assign its participating interest in the Avinngaq license. The process is pending Greenland government approval.

IndonesiaThe Kualakurun PSC was signed in May 2015. This onshore exploration block is located in Central Kalimantan. The first three-year phase of the exploration program will include airborne gravity gradiometry and a 2-D seismic program.

NorwayBarents Sea and North SeaIn 2015, ConocoPhillips participated in four nonoperated exploration and appraisal wells in the Oseberg, Visund and Aasta Hansteen areas. Two discoveries in the Oseberg area are currently producing; the other two wells were also discoveries and are currently undergoing evaluation.

The company was awarded two exploration licenses, PL044C and PL782S, in early 2015. ConocoPhillips was also awarded two additional licenses, PL845 and PL782SB, in early 2016.

United KingdomNorth Sea ConocoPhillips drilled one operated exploration well north of the Jasmine Field in the Central Graben in early 2015. The well was subsequently expensed as a dry hole. The company also participated in a nonoperated exploration well in the Greater Clair Area, which was successful and is currently undergoing evaluation. Two new licenses were awarded in the U.K. 28th licensing round in the East Irish Sea.

AustraliaBrowse and Bonaparte Basins In 2006, ConocoPhillips farmed into permit WA-315-P and jointly acquired permit WA-398-P. The three-well, Phase I drilling program successfully encountered hydrocarbons. The Phase II drilling campaign was completed in 2014 where five wells were drilled in these permits and all discovered hydrocarbons.

Also in Australia, the NT/RL6 and NT/RL5 permits are located offshore Northern Territory in the Timor Sea approximately 160 miles north-northwest of Darwin. The Caldita-1 discovery well in NT/RL6 was drilled in 2005, and the Barossa-1 discovery well in NT/RL5 in 2006. A retention lease over the Barossa discovery was awarded in October 2012, and the Caldita discovery in May 2013. In 2012, ConocoPhillips farmed down its interest from 60 percent to 37.5 percent. A three-well appraisal program to further evaluate the fields’ potential was completed in March 2015. The first two wells, Barossa-2 and Barossa-3 both encountered hydrocarbons. The final well, Barossa-4, was not commercially viable.

ChinaIn 2015, the company participated in two successful appraisal wells in the Penglai fields. These will be used to support future development plans.

7

President, Exploration and Other InternationalRichard Lunam

Contact InformationMedia Relations: 281-293-1149

Office Address 600 N. Dairy Ashford RoadHouston, Texas 77079

Segment Information

21(As of Dec. 31, 2015)

Operations and activities in 21 countries


Copyright ©2016 ConocoPhillips Company. All Rights Reserved.

8

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

ConocoPhillips600 N. Dairy Ashford Road Houston, Texas 77079Telephone: 281-293-1000www.conocophillips.com

Investor Relations600 N. Dairy Ashford Road Houston, Texas 77079Telephone: 281-293-5000www.conocophillips.com/investor [email protected]

Media Relations600 N. Dairy Ashford Road Houston, Texas 77079Telephone: 281-293-1149www.conocophillips.com/[email protected]

Corporate Information

Our Company Values

SSAFETY PEOPLE

PINTEGRITY

IRESPONSIBILITY

RINNOVATION

ITEAMWORK

TCAUTIONARY 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 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 regulatory 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 “resource” 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.

AUSTRALIA

ANGOLA

COLOMBIA

CHILE

SOUTH AMERICA

AFRICA

LIBYA

GREENLAND

INDONESIA

MALAYSIA

BRUNEI

ASIA

CHINA

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

SENEGAL

MIDDLE EAST

NORWAY

UNITED KINGDOM

UNITED STATES – ALASKA

CANADA

NOR TH AMERICA

UNITED STATES –LOWER 48

Exploration* Exploration and Production*

* In mid-2015, ConocoPhillips announced plans to reduce future spending on deepwater exploration and is currently pursuing a phased exit.

Documents

Fact Sheet—March 2016