In June 2009, ConocoPhillips signed a project agreement allowing for the joint venture exploration and development of the N Block, located offshore Kazakhstan. ConocoPhillips will have a 24.5 percent interest in the subsoil use contract.

KAZAKHSTAN

N Block
Operator: N Operating Company (51.0%)
Co-venturers: ConocoPhillips (24.5%), Mubadala (24.5%)
In June 2009, ConocoPhillips signed a project agreement allowing for the joint venture exploration and development of N Block, located offshore Kazakhstan. ConocoPhillips will have a 24.5 percent interest in the subsoil use contract. The first exploration well is planned to spud in 2010 on the Rakushechnoe More Prospect.

North Caspian Sea Production Sharing Agreement (NCSPSA)
Operator: North Caspian Operating Company B.V. (NCOC BV)
Co-venturers: Eni (16.8%), ExxonMobil (16.8%), Shell (16.8%), Total (16.8%), ConocoPhillips (8.4%), INPEX (7.6%), KazMunayGas (16.8%)
In 1998, ConocoPhillips acquired an interest in 10.5 blocks off the coast of Kazakhstan through the Republic of Kazakhstan’s North Caspian Sea Production Sharing Agreement (NCSPSA). The first exploration well, Kashagan E-1, was completed as a discovery in 2000. In 2002, the well was declared commercially viable, and in 2004, the Republic of Kazakhstan approved the Kashagan development plan and budget. The operator is planning for first production in the latter part of 2012. The initial production phase of the contract is 20 years, with options to extend the agreement an additional 20 years.

Baku-Tbilisi-Ceyhan Pipeline
Operator: BP (30.1%)
Co-venturers: Socar (25.0%), Chevron (8.9%), Statoil (8.7%), TPAO (6.5%), Total (5.0%), ENI (5.0%), Itochu (3.4%), ConocoPhillips (2.5%), Inpex (2.5%), Hess (2.4%)
The Baku-Tbilisi-Ceyhan Pipeline was placed into operation in 2006. Its nameplate capacity is 1 MMBD, and ConocoPhillips’ capacity rights are proportional to its equity.