Through its Exploration and Production (E&P) segment, ConocoPhillips explores for, produces, transports and markets crude oil, natural gas, natural gas liquids (NGL) and bitumen on a worldwide basis. Operations to liquefy and transport liquefied natural gas (LNG) also are included in the E&P segment.
Key focus areas include legacy assets, as well as developing major new projects and exploring for new reserves in promising areas. The company’s portfolio includes legacy assets in the U.S. Lower 48 states, Alaska, Canada, the United Kingdom and Norway; growth opportunities offered through major development projects in the Middle East, North Africa and the Asia Pacific Region; and a global exploration program.
At year-end 2009, ConocoPhillips had exploration activities in 15 countries and produced hydrocarbons in 13, with proved reserves in three additional countries. Producing areas included the United States, Norway, the United Kingdom, Canada, Australia,
offshore Timor-Leste in the Timor Sea, Indonesia, China, Vietnam, Libya, Nigeria, Algeria and Russia.
Exploration and Production Facts
As of year-end 2009:
| Total Reserves1 |
8.4 BBOE |
| Assets |
$101.0 billion |
| Employees |
12,295 |
| Five-Year Reserve Replacement Average |
145% |
| Total Worldwide Production1 |
1,854 MBOED |
| Crude Oil and NGL Production1 |
968 MBD |
| Natural Gas Production1 |
4,877 MMCFD |
1. Excludes LUKOIL.
Natural gas reserves are converted to BOE based on a 6:1 ratio – 6,000 cubic feet of natural gas converts to 1 BOE.
