To further strengthen and invest in our people and technology capabilities, ConocoPhillips has purchased property in Louisville, Colorado, on which the company plans to develop a corporate learning center and a global technology center.

This 432-acre property – about halfway between Denver and Boulder – presents the opportunity to do this at a prime location and in a campus environment that will foster sharing of knowledge, innovation and creativity.

1. What is the status of the new ConocoPhillips campus in Louisville, Colorado?

ConocoPhillips acquired this site in 2008 to build a corporate learning center and global technology center. The company has yet to determine the size and scope of any future investments and operations that could be sited at Louisville. We filed the preliminary development documents with the City of Louisville on Nov. 12, 2009. That was the beginning of the entitlement process and it will be followed by a review and approval process that is expected to take several months. We have been advised the building permit could be issued in early 2011.

2. What will be the size of the campus?

The overall site is 432 acres but the actual boundary of the planned development encompasses 390 acres. If the project goes forward, the campus would initially consist of 1.6 million square feet and would be targeted for completion in 2013. The entitlement process which we are currently involved in with the city of Louisville would allow a campus up to a total of 2.5 million square feet if completely built out.

3. What is the City of Louisville’s review process and are any problems anticipated?

The City’s review process involves a number of steps, beginning with city staff review of the preliminary developments plans we have filed and including formal hearings before the city Planning Commission and the City Council. We have been working closely and cooperatively with the City Council and city staff in preparing the preliminary development plans and look forward to continuing to work with them through this process.

4. Do the economic challenges facing the energy industry threaten the new campus?

We continue to experience a tough global economy, but even so we continue to make prudent, forward-looking investments. While this project falls into that category, it must compete with other strategic investments for capital. Accordingly, decisions regarding the design, construction and operation of this campus will be done in a business-like manner just as any other business decision we make.