This is news concerning ConocoPhillips, issued by a joint-venture company, and is posted here for informational purposes.

HOUSTON, June 1, 2006 --- ConocoPhillips [NYSE:COP] and Bechtel announced today that the world’s newest and largest operating Liquefied Natural Gas (LNG) plant has been transferred to Atlantic LNG of Trinidad and Tobago after passing a performance test. The plant, which was engineered and constructed by Bechtel, uses the ConocoPhillips Optimized Cascade process designed to safely and efficiently meet the growing demand for clean-burning natural gas. The plant has a nominal capacity of 5.2 million tonnes per year and was delivered three months ahead of schedule.

Atlantic LNG’s Train 4 is the third ConocoPhillips – Bechtel LNG train to achieve the distinction of being the largest operating LNG plant in the world at the time of its startup. In 1969, the ConocoPhillips-operated Kenai, Alaska plant pioneered the Pacific LNG trade. In 1999, the first train at Atlantic LNG held the record for the largest single train after its startup. Now Atlantic LNG’s Train 4 has reclaimed that record.

“The Optimized Cascade process has proven to be safe, reliable and flexible,” said Jim Rockwell, Manager of LNG Technology Licensing for ConocoPhillips. “This is the first time we have used three gas turbine-compressor strings on a plant, a feature that adds even more operating flexibility to the process.”

“We are proud of the continuing accomplishments of LNG plants using the Optimized Cascade process,” said Errol Rapp, Project Director for Bechtel Corporation. “We have achieved key project goals while demonstrating over fifteen million man-hours worked without a lost work-day incident.”

ConocoPhillips is an integrated petroleum company with interests around the world. For more information, go to www.conocophillips.com. Bechtel is one of the world's premier engineering, construction and project management companies. Since its founding in 1898, Bechtel has worked on more than 22,000 projects in 140 countries, including hundreds of power generation facilities. For more information about Bechtel, visit www.bechtel.com. 

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This press release contains forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements that contain projections about our revenues, income, earnings and other financial items, our plans and objectives for the future, future economic performance, or other projections or estimates about our assumptions relating to these types of statements. These statements usually relate to future events and anticipated revenues, earnings, business strategies, competitive position or other aspects of our operations or operating results. In many cases you can identify forward-looking statements by terminology such as "anticipate," "estimate," "believe," "continue," "could," "intend," "may," "plan," "potential," "predict," "should," "will," "expect," "objective," "projection," "forecast," "goal," "guidance," "outlook," "effort," "target" and other similar words. However, the absence of these words does not mean that the statements are not forward-looking. The forward-looking statements are based on management's expectations, estimates and projections about ConocoPhillips and the petroleum industry in general on the date this statement was released. These statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions that are difficult to predict. Further, certain forward-looking statements are based on assumptions as to future events that may not prove to be accurate. Therefore, actual outcomes and results may differ materially from what is expressed or forecast in such forward-looking statements. Economic, business, competitive and regulatory factors that may affect ConocoPhillips' business are generally as set forth in ConocoPhillips' filings with the Securities and Exchange Commission (SEC). Unless legally required, ConocoPhillips undertakes no obligation (and expressly disclaims any such obligation) to update or alter its forward-looking statements whether as a result of new information, future events or otherwise.