Pilot Annual Share Fair

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• Pilot Annual Share Fair
• Aberdeen Exhibition and Conference Centre
• 9th November 2005
• Dorothy Daldry / Debbie McCrory

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CAUTIONARY STATEMENT FOR THE PURPOSES OF THE
SAFE HARBOR PROVISIONSOF THE PRIVATE
SECURITIES LITIGATION REFORM ACT OF 1995
The following presentation includes
forward-looking statements within the meaning of
Section 27A of the Securities Act of 1933, as
amended and Section 21E of the Securities
Exchange Act of 1934, as amended, which are
intended to be covered by the safe harbors
created thereby. You can identify our
forward-looking statements by words such as
anticipates, expects, intends, plans,
projects, believes, estimates, and similar
expressions. Forward-looking statements relating
to ConocoPhillips operations are based on
managements expectations, estimates and
projections about ConocoPhillips and the
petroleum industry in general on the date these
presentations were given. 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 upon
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. Factors that could cause actual
results or events to differ materially include,
but are not limited to, crude oil and natural gas
prices refining and marketing margins potential
failure to achieve, and potential delays in
achieving expected reserves or production levels
from existing and future oil and gas development
projects due to operating hazards, drilling
risks, and the inherent uncertainties in
interpreting engineering data relating to
underground accumulations of oil and gas
unsuccessful exploratory drilling activities
lack of exploration success potential disruption
or unexpected technical difficulties in
developing new products and manufacturing
processes potential failure of new products to
achieve acceptance in the market unexpected cost
increases or technical difficulties in
constructing or modifying company manufacturing
or refining facilities unexpected difficulties
in manufacturing, transporting or refining
synthetic crude oil international monetary
conditions and exchange controls potential
liability for remedial actions under existing or
future environmental regulations potential
liability resulting from pending or future
litigation general domestic and international
economic and political conditions, as well as
changes in tax and other laws applicable to
ConocoPhillips business. Other factors that
could cause actual results to differ materially
from those described in the forward-looking
statements include other economic, business,
competitive and/or regulatory factors affecting
ConocoPhillips business generally as set forth
in ConocoPhillips filings with the Securities
and Exchange Commission (SEC), including our Form
10-Q for the quarter ending September 30, 2005.
ConocoPhillips is under 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. Cautionary Note to U.S.
Investors The U.S. Securities and Exchange
Commission permits oil and gas companies, in
their filings with the SEC, to disclose only
proved reserves that a company has demonstrated
by actual production or conclusive formation
tests to be economically and legally producible
under existing economic and operating conditions.
We use certain terms in this presentation such
as oil/gas resources, Syncrude, and/or
Society of Petroleum Engineers (SPE) proved
reserves that the SECs guidelines strictly
prohibit us from including in filings with the
SEC. U.S. investors are urged to consider
closely the oil and gas disclosures in our Form
10-K for the year ended December 31, 2004. This
presentation includes certain non-GAAP financial
measures, as indicated. Such non-GAAP measures
are intended to supplement, not substitute for,
comparable GAAP measures. Investors are urged to
consider closely the GAAP reconciliation tables
provided in the presentation Appendix.
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Agenda

• ConocoPhillips Overview
• North Sea Business Unit Overview
• Supply Chain Overview

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ConocoPhillips

• International integrated energy company
• Operates in more than 40 countries
• Approximately 35,800 employees worldwide
• Assets of 104 billion

• As of September 30, 2005

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Our Business
EP
Refining Marketing

• Petroleum exploration production
• Petroleum refining,marketing supply
  transportation
• Natural gas gathering,processing andmarketing
• Chemicals and plasticsproduction and
  distribution

Natural Gas Gathering
Chemicals Plastics
Including a 30.3 percent interest in Duke Energy
Field Services, LLC (DEFS) through a 50
percent interest in Chevron Phillips Chemical
Company LLC
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Refining Marketing



United States
International
12 US refineries capacity 2.6 MMBPD
6 refineries, 5 countries
Primarily Conoco, Phillips 66 76 brands
Primarily JET, Jiffy ProJET brands
Multiple pipelines terminals
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2005 Exploration Drilling
Alaska 2 wildcat2 appraisal
North Sea 3 wildcat6 near-field5 appraisal
Canada 4 wildcat2 appraisal
Kazakhstan 1 appraisal
China 1 appraisal
GOM 1 wildcat
Vietnam 2 wildcat3 appraisal
Qatar 2 appraisal
Nigeria 2 DW wildcat 3 OML wells
Venezuela 1-2 appraisals
Indonesia 3 wildcat 4 appraisal

Malaysia 1
wildcat 3 appraisal
Cameroon 1 wildcat 1 appraisal
Australia 1 wildcat
Worldwide exploration drilling programme only
excludes asset exploration drilling in South
Texas and West Canada. Excludes any drilling in
Russia as part of Timan-Pechora JV.
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The SPIRIT of Performance
Our Purpose Use our pioneering spirit to
responsibly deliver energy to the world Our
Values Safety People Integrity Responsibility
Innovation Teamwork
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Safety and Environment

• At ConocoPhillips, our work is never so urgent
  or important that we cannot take time to do it
  safely.
• Measurable safety, health and environmental
  objectives are set for all our operations and
  we continually strive to improve performance.
• The environment we operate in makes committing
  to sustainable development an essential
  strategy for ConocoPhillips.

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Sustainable Development

• Our commitments .
• Increase the availability of ever-cleaner
  energy.
• Be transparent and accountable by measuring
  and reporting both our financial and
  non-financial performance.
• Operate to the highest safety standard.
• Minimise the environmental impact of our
  operations.

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Sustainable Development

• Our commitments . continued
• Invest in the well-being and development of
  our employees.
• Constantly improve the energy and material
  efficiency of our operations.
• Practice and uphold the highest ethical
  standards.
• Ensure the long-term financial viability of
  the company.

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Total Company ROCE
Source COP Annual Analyst Meeting, November
2004 COP and BP adjusted for purchase accounting
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Agenda

• ConocoPhillips Overview
• North Sea Business Unit Overview
• Supply Chain Overview

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North Sea Business Unit (NSBU)
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North Sea Ambition

• To sustain a thriving and profitable business
  while providing funding for worldwide growth
  opportunities
• Key Strategies
• Improve HSE Performance
• Sustain production over the next decade
• Achieve top quartile cost and investment
  performance
• Create a step change reduction in drilling and
  facilities costs
• Be recognised as the best developer of people in
  the North Sea

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UK Operations

• Production from operated and partner-operated
  assets in the central and southern North Sea.

• Operated Britannia, BritSats, J-Block,
  MacCulloch, ..Rotliegendes/LOGGS/VTS and
  ..Carboniferous / CMS.
• Partner operated Alba, Armada, Miller,
  Statfjord, Clair.
• Onshore Humber Refinery, Immingham Combined
  Heat and Power Plant, Teesside Terminal,
• Theddlethorpe Gas Terminal.

Britannia Operator Limited, a joint venture
between ConocoPhillips and Chevron
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Norway Operations

• Production from 7 operated, 25 non-operated
  licenses.
• Operated - Ekofisk, Eldfisk, Embla Tor
  account.
• Partner operated Statfjord, Heidrun, Huldra,
  Troll, Oseberg and Grane.
• Onshore - Gas to Emden, Germany Oil to
  Teesside.

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North Sea Projects

• Saturn Munro
• Britannia Satellites - Phase I
• Tethys Mimas
• Teesside VOC recovery
• Ekofisk Area Growth
• Ekofisk Major Brownfield
• Plus a number of potential future
• NSBU Projects

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Agenda

• ConocoPhillips Overview
• North Sea Business Unit Overview
• Supply Chain Overview

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North Sea BU Procurement Principles

• Competitive bidding
• Pan-North Sea
• Tendering through electronic medium
• Oil Gas Directory registered suppliers
• (FPAL Achilles databases)
• Bid evaluation process - value based
• Utilisation of Contract Management Plans
• (reflect value, risk and contract complexity)
• Compliance with EU Procurement Regulation
• (objectivity, non-discriminatory transparency)

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NSBU Supply Chain organisation
Support Spend Categories

• Capital Projects
• Well Operations
• Logistics
• Operations and Maintenance
• UK
• Norway

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NSBU Capital Projects
Munro
Saturn
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NSBU Capital Projects
Current UK Sector

• Britannia Satellites Project - Phase I
• Tethys Mimas (Southern North Sea)
• Teesside VOC Project (Onshore)

Plus a number of potential future UK sector
projects
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NSBU Capital Projects
Current Norwegian Sector

• Ekofisk Major Brownfield Projects
• Ekofisk Cessation Project

Plus a number of potential future
Norwegian/Danish sector projects
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Well Operations NSBU Integration 2004/2005

• Secured contracts for
• Drilling services (Directional Drilling)
• Drilling Fluids
• Drilling Rig sharing (Maersk)
• Cementing
• Slickline Services
• Wireline Logging
• Tubing Conveyed Perforating
• Casing Handling
• Downhole Tools
• Fishing / Milling Services
• Coiled Tubing

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Well Operations Potential Focus Areas for 2006

• Drilling rigs
• OCTG
• Liner hangers
• Cementing
• Float equipment
• Centralizers
• Wellheads / trees
• Underbalanced drilling

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Greater Britannia/SNS Contracting Activity 2005

• Selected Operations and Maintenance examples
• Combined tender - ConocoPhillips, Chevron and
  Britannia Operator Limited - covering
  requirements in Central and Southern North Sea
• - Crane Operations and Maintenance Services
• - Valve Maintenance Services
• Security Services for UK Operations
• Medical Services Onshore Offshore

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Greater Britannia/SNS Contracting Activity 2006

• ConocoPhillips is in the process of combining the
  CNS and SNS Operations under a single operations
  support group in Aberdeen.
• During the 1st Quarter of 2006, we will conduct a
  contract rationalisation exercise to examine
  existing contracts to improve contracting
  efficiencies, market leveraging and synergy
  realisation.
• This effort may result in a number of Invitations
  to Bid for various types of services.
• ConocoPhillips will utilise FPAL in the selection
  of bidders for this work.

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Greater Ekofisk Contracting Activity 2005

• Fabric Maintenance Services
• Helicopter Services (Pan NS)
• Provision of Accommodation vessel for 2005/06
• Seismic Acquisition of Tommeliten
• Engineering and Modification Services
• Provision of Platform Supply Vessels
• Intelligent Pigging (pan-NS)
• Process chemicals (pan-NS)
• Mechanical/Electrical/Instrument Maintenance
  (Teesside)
• Personnel Services

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Greater Ekofisk Potential Contracting Activity 06
Operations and Logistics

• Offshore Personnel services
• Offshore Catering services (Flotel)
• Accommodation Unit for Eldfisk
• Security Services
• Waste Management services
• Testing services
• Structural Re-analysis
• Scaffolding/lagging/civil maintenance (Teesside)
• Replacement of DCS systems (Teesside)

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Greater Ekofisk Potential Contracting Activity 06

• (Continued)
• Service Maintenance of Control systems Offshore
• Chemical cleaning
• Service of Breathing Equipment
• Logistics Management Services
• Marine Strategy (Pan NS)
• Updating and completion of 3D Models

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NSBU Supply Chain Contacts

• Organised to support spend categories
• Capital Projects Dave Wallace
• Well operations Timm Justice
• Logistics Phil Metcalfe
• Operations and Maintenance
• UK Allison Thomson
• Norway Tove Nina Klemmetsrud
• Market Intelligence Dorothy Daldry
• Functional Excellence Ilona Thompson