ConocoPhillips

Legacy Assets

Our proven, time-tested legacy assets reflect our effective community partnerships and provide a solid operational foundation. These extensive assets continually benefit from the application of new technology and fresh geologic knowledge to both enhance existing resource recovery and identify potential new sources of hydrocarbons.

We have legacy assets in the Permian basin in the southwestern United States as well as Alaska, Canada and Norway.

Ekofisk, in Norway, first started producing in 1971. At that time, it was forecasted to yield significant production for about a decade. Now, with new projects under development, the field is prepared for production until 2050.

We benefit significantly from our large legacy acreage holdings. We have a deep understanding of key basins and their geology, along with a base of existing infrastructure and operational scale.

We continue applying new technology and fresh geologic knowledge to both enhance existing resource recovery and identify potential new sources of hydrocarbons in our legacy positions. These assets provide strong cash flow and profitable production, with significant remaining potential.

Such operations also offer evidence of the ConocoPhillips fundamental commitment to safety, operating excellence and environmental stewardship. They provide decades of success stories centered on our long-term, proven record of safe and successful operations.

They also serve as tangible proof of our commitment to communities. In Alaska, where we have operated for nearly 50 years, our people give an average of over 6,000 volunteer hours annually. ConocoPhillips has also donated more than $100 million to Alaska-based nonprofits since 2000.