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Business Unit Annual Summary 2019 I cooperate with our teams to develop new technology and balance A key player on the the need with our no. 1 priority Health, safety and environment – nobody gets hurt. Making a Norwegian continental shelf difference in ConocoPhillips makes – our number 1 pr iority me energized In the spring of 2020, everyone faced unprecedented conditions and uncertainties, including the oil and gas industry. However, - Birgit Vignes colleagues quickly adapted to new ways of the work to improve, clarify and simplify Director Wells Solutions working to continue business activities despite work processes and procedures. all challenges. Operational integrity is safeguarded through Development management and inclusion of procedures, ConocoPhillips has a long and proud history in training and communications. Norway. Our aspiration is industry leadership in Life saving rules asset performance, innovation, culture and environmental responsibility. ConocoPhillips’ Life saving rules significantly contributed to improve HSE Safety is our most important value. Nobody getting hurt is our number results in 2019. The rules define how the one priority. 40 years have passed since the tragedy on the Alexander company expects its activities to be L. Kielland rig on 27 March 1980. Learning from history to prevent major performed. Every rule is followed by a set of accidents is vital in our future operations. My commitment is to support minimum requirements and verifications, our work under the banner 'Never another major accident', introduced used in the planning and execution phases by the Safety Authority (PSA) as a main focus area for 2020. of a task. This creates transparent and proactive leadership, as well as improved While our safety performance remains robust, we also focus on communications about safety, expectations environmental challenges. Since 2005, the emissions of greenhouse and risks posed in a workplace. gases (GHG) have been reduced by 15 percent on our operated assets in the Greater Ekofisk Area (GEA), but we are committed to make Business partners further reductions. This year, we will finalize the GHG roadmap and ConocoPhillips in Norway (also complete a wind-power study for the GEA; two important initiatives with referred to as ConocoPhillips and/or ConocoPhillips’ business partners have an integrated role in the aim to improve future sustainability. the company) explores for and driving continuous improvement and safeguarding the HSE work produces oil and gas on the and standards. Suppliers and contractors are audited on a regular Innovation is a key enabler for transforming the way we work. It Norwegian continental shelf with basis to ensure the quality of operations. In addition, includes digitalization, using new technology in new ways, as well as ownership interests in ten producing ConocoPhillips actively contributes to share best practices, continuous improvement, research and development. In the future, we fields. In addition, the company is the experience and knowledge with our suppliers, contractors, and in will work differently. Low-cost dual lateral well technology and the operator of the fields in the Greater licenses operated by others. development of Seabox, a future water injection technology, are two Ekofisk Area and transports oil and examples of how we change the we way we work through new ideas. gas from the Norwegian to Emergency response We have several important targets over the next years. We aim to Teesside Operations in the United deliver first production from the new Tor II field, and we are advancing Kingdom. Emergency response and preparedness is an essential part of Eldfisk 2/7 B to prepare for remote operations. HSE, and we work to strengthen our capacities. A corporate mutual Safety is a core value of - emergency response assistance agreement between and Revitalizing our exploration portfolio on the Norwegian continental shelf Phillips, and it is reflected in the ConocoPhillips is in place to ensure access to qualified support. In is another vital element to ConocoPhillips. A three-well operated company’s operations and activities; November 2019, the company organized a major emergency exploration campaign in the North Sea kicked off in 2019, delivering two strongly integrated in our culture. Our response exercise in , successfully involving third party small discoveries on the Busta and Enniberg prospects. A new number one priority is zero harm to companies such as the Norwegian Clean Seas Association, Oil exploration program for the is progressing in 2020. personnel and the environment, and Spill Response Limited, and authorities such as the Norwegian Recent awards of five attractive licenses in the Awards in Predefined this ambition drives our work to Coastal Administration. In addition, representatives from Equinor Areas were also helpful in building a stronger exploration portfolio. continuously improve HSE and from ConocoPhillips’ global emergency response teams performance. participated to ensure learning and transfer of best practices. Engaged employees are a key contributor for reaching our goals. We want to strengthen our culture, which is why we are developing a In 2019, the activity level on our External environment baseline for diversity and inclusion. Knowledge sharing, collaboration operated assets in the Greater Ekofisk and integration through high performing teams are key elements for Area and at Teesside was high. The Our actions today will help to provide the necessary energy to fuel winning. For me personally, inclusion means all voices are heard, which triennial maintenance turnaround was economies and social well-being, while also working to secure a has become even more important during The Great Lockdown. Based completed safely and ahead of stable and healthy environment for tomorrow. This is our core on the significant flexibility and resiliency I have experienced from schedule – with more than 150,000 value, and it drives our efforts to improve environmental standards, individuals and teams across our business during the Covid-19 this work hours. The organization was practices and our research and development initiatives throughout spring, I am confident that we will get through this as one safe and committed to maintaining the HSE 2019. Using new tools for environmental management was a focus strong team. performance established in recent area, including the management and participation of multiple years, with no high-risk incidents since environmental projects. More information in the Sustainability Terri King 2015. Throughout 2019, we continued section (pages 14-15). President and 2 2 3

Key Figures ConocoPhillips Skandinavia AS Surfing forces me to connect with 2019 2018 2017 – nature immediately. It makes me Barents INCOME STATEMENT (in MMNOK) Sea Norwegian Total revenues 23,677 24,906 21,058 stretch and pursue new career Sea Operating expenses 13 660 11,376 11,467 opportunities within NORWAY Net financial items -111 107 -231 North Income taxes 7,283 10,085 6,341 ConocoPhillips NORTH AMERICA Sea Net income 2,623 3,552 3,019 EUROPE Paci c Ocean ASIA PRODUCTION UNITED STATES – 1) LOWER 48 Net daily production - Finn Kristian Slettum Haukali JAPAN Oil (Thousands of barrels) 84.2 87.1 97.0 Corporate Analyst Atlantic Ocean Natural Ga s (M illions of cubic meters) 7.2 5.5 5.2

Gulf of NGL (Thousands of barrels) 4.0 3.8 3.6 Paci cPaci c Ocean CAMBODIA 1) South Average crude oil price (USD/Barrels) 65.0 71.6 54.6 China Sea Average exchange rate (USD/NOK) 8.80 8.13 8.28 Natuna Sea COLOMBIA Indian Ocean OTHER KEY FIGUS RES (in MMNOK) I Net cash flow from operating activities 9 ,117 11,469 12,478 Java Sea TIMOR-LESTE SOUTH Capital expenditures 4,578 4,303 4,428 AMERICA Cash and cash equivalents 2,345 755 1700 2 Financial solidity (equity ratio) 19 % 14 % 14 %

CHILE 1) Production and oil prices for ConocoPhillips Skandinavia AS and may not tie to the ConocoPhillips 10-K due to rounding.

3 % NGL ARGENTINA 2019 Production

bTahrreolsu osf aoilnd 32 % equivalent per day Exploration Production Exploration and Production Headquarters 131 65 % 2019 Net Income Crude Oil

Millions Business overview and key figures 2623 of Norwegian Kroner 2019 Production Mix Key Figures ConocoPhillips Norge Headquartered in Houston, , The company is represented through several 2019 2018 2017 ConocoPhillips had operations and activities in subsidiaries, among others ConocoPhillips INCOME STATEMENT (in MMNOK) 17 countries, $71 billion of total assets, and Skandinavia AS and ConocoPhillips Norge. Operating revenues 4,198 4,001 3,815 approximately 10,400 employees as of Dec. 31, The two Boards of Directors comprise five Operating expenses 4,094 3,769 3,582 2019. Production excluding Libya averaged members from the Norwegian organization; Net financial items* 23 3,535 5,466 1,305 MBOED for 2019, and proved reserves Terri G. King (Managing Director), Jarl B. Income taxes 26 64 100 were 5.3 BBOE as of Dec. 31, 2019. For more Ellingsen (Chairman of the Board), Christin Net income 101 3,703 5,599 information, go to www..com. Svensen, Ingunn M. H. Hagelin and Tore Ulleberg. They have signed the 2019 annual EMPLOYEES ConocoPhillips in Norway reports, available via Brønnøysundregistrene Employees at December 31 1,805 1,796 1,847 (www.brreg.no). Key figures are highlighted in OTHER KEY FIGURES (in MMNOK) ConocoPhillips’ Norway legacy dates back to tables on page 5. 1 1965, when the company was awarded three Net cash flow from operating activities 22 3,575 5,568 production licenses in the first licensing round on Cash and cash equivalents 1,332 1,386 7,831 Current market situation 2 the Norwegian continental shelf (NCS). After Financial solidity (equity ratio) 58 % 58 % 31 % several years of exploration drilling, Norway’s In the spring of 2020, the global oil and gas 1) 2017 and 2018 includes dividend received from ConocoPhillips Skandinavia AS first offshore commercial oil discovery was made industry faced unprecedented market in 1969, resulting in the development of the conditions and uncertainties. ConocoPhillips Number of employees Ekofisk field in the North Sea, a legacy field area entered into this downturn with a strong for the entire oil and gas community in Norway. balance sheet and significant operational (at year end 2019) flexibility. The same applies to ConocoPhillips Onshore Offshore Today, ConocoPhillips holds a strong position in Norway. 1805 50,3 % 49,7 % in many of the major fields on the NCS. 2019 Net Income

This Annual Summary contains forward-looking statements. We based the forward-looking statements on our current expectations, estimates and projections about ourselves and the industries in which we operate in general. We caution you that these statements are not guarantees of future performance as they involve assumptions oMf Niollrwioegniasn Kroner that, while made in good faith, may prove to be incorrect, and involve risks and uncertainties we cannot predict. In addition, we based many of these forward-looking 2019 Onshore/Offshore Employee split statements on assumptions about future events that may prove to be inaccurate. Accordingly, our actual outcomes and results may differ materially from what we have 101 expressed or forecast in the forward-looking statements. 2) Financial Solidity is calculated by dividing total equity by total assets The financial information displayed on this page is prepared in conformity with the Norwegian generally accepted accounting principles (NGAAP). 4 5 A long ConocoPhillips career has broadened my perspectives in life, both personally and Exploration professionally. It has made me appreciate teamwork and diversity of thought, essential to activities our success

At ConocoPhillips in Norway, we are working to increase our exploration footprint as part of our strategy to continue as a key player on the Norwegian continental shelf (NCS).

Our exploration portfolio has been refocused and revitalized over the recent years. Our main exploration effort is identifying additional valuable near-field drilling prospects and previously overlooked potential on the NCS. Using new data and by applying new technology and ideas, our exploration staff have identified new opportunities, resulting in attractive new exploration licenses. Last year, the portfolio was further expanded with five licenses in the Awards in Predefined Areas 2019 (APA). We Illustrated Tor II development in the Greater Ekofisk Area. have an ambition to continue to add more valuable acreage to our existing exploration portfolio, through actively pursuing opportunities in future licensing rounds. Operated Developments and projects

In 2019, ConocoPhillips made discoveries in At ConocoPhillips in Norway, we work to add material Partner-operated both operated exploration wells. A discovery resources and reserves to our developments and projects was made on the Busta prospect (PL 782 S) portfolio to ensure future growth. Therefore, we execute ConocoPhillips participates as a partner in a and a small discovery was made on the several development projects on the Norwegian continental number of licenses on the NCS that are operated Enniberg prospect (PL 917), both in the North shelf (NCS), both operated and partner-operated. by others. The company seeks to identify added Sea. Currently, we are working to study their value and to pursue development projects, while commercial potential. The drilling program Our developments and projects portfolio reflects our aim to also finding measures to increase oil recovery in continued into 2020 where a third well was maximize near-field value, while utilizing existing mature field areas. ConocoPhillips takes part in drilled on the Hasselbaink (PL 917) prospect, infrastructure and ensure safe and prudent operations. several development projects. which turned out to be a dry hole. Operated Close to 200 million barrels of oil equivalent may be Another exploration program with two operated produced from the new Breidablikk field in the exploration wells in the Norwegian Sea is being As operator of the fields in the Greater Ekofisk Area (GEA), North Sea. The development project is located prepared for start-up in late 2020, targeting the ConocoPhillips is mapping the area to identify opportunities. northeast of the Grane field and is planned to be Warka (PL 1009) and Slagugle (PL 891) In 2019, we submitted a plan for development and developed as a subsea field, tied back to the Grane prospects. operation of the Tor II field in the GEA. In November 2019, field. Breidablikk is an oil field with planned start-up the plan was approved by Norwegian authorities. in 2024. Partner-operated The Tor II field is being developed with two subsea Another partner-operated project beeing studied ConocoPhillips also has working interests in templates tied back to the Ekofisk Complex. Originally, the is the current work to mature the Kobra East – exploration licenses that are operated by others. Tor field started to produce in 1978, but production was Gekko development in the Alvheim field area. In 2019, the company participated as a partner closed in December 2015. However, there are significant If sanctioned, first oil could take place in 2024. in the Canela discovery (PL 888), adjacent to remaining resources in the underground, estimated to be the Heidrun field in the Norwegian Sea. The 60-70 million barrels of oil equivalent, that can be produced Sharing knowledge is key to maximize value in discovery will be evaluated for commercial with the new Tor II subsea facility. The Tor II development partner-operated assets. ConocoPhillips will potential. requires investments of more than 6 billion NOK, and continue to collaborate with operators and approx. 85 percent of the resources are oil. licensees and evaluate new investments in As a licensee, we are committed to fully development projects and oil recovery initiatives. evaluate the potential in exploration licenses, ConocoPhillips will continue to mature and evaluate the and we collaborate with the operator and other potential for other developments in the GEA. Eldfisk North partners through constructive dialogues and and Tommeliten Alpha are subject to such current and technical studies. ongoing studies for potential future development.

6 7 I help to increase oil recovery in drilling operations offshore. When I’m home, hiking experiences inspire me.

- Anita Vonheim Greater Ekofisk Area Drilling Supervisor

The Ekofisk Complex in 2020. Production overview

ConocoPhillips in Norway is the operator of Norway’s injection programs will continue over the next years first commercial oil discovery in 1969. With over 50 to ensure that hydrocarbon resources are produced years’ experience on the Norwegian continental shelf safely and profitably from the Ekofisk chalk reservoir. (NCS), we take pride in ConocoPhillips’ legacy asset in In addition, new subsea developments and removal the Greater Ekofisk Area (GEA), aiming to continue our of installations will be important activities in the field strong presence in Norway with ownership interests in area in the coming years. A new generation of people ten producing fields on the NCS. and technologies will collaborate to further improve production results. In 2019, ConocoPhillips’ average net production per day was 131,000 barrels of oil equivalent. By year-end, the Operating Norway’s legacy offshore oil field has company’s proven reserves were 360 million barrels of impacted the culture within ConocoPhillips to oil equivalent. become highly focused on improvement. where offshore and onshore personnel Operated have daily interactions and frequent communications is a result of this cooperative environment, creating ConocoPhillips is the operator of the GEA, located in the added value in terms of prudent and safe operations, southeastern part of the North Sea, 280 kilometers from while also delivering high-quality results. . The area includes the producing fields Ekofisk, Eldfisk and Embla, operating a total of 17 Partner-operated offshore installations. About six billion barrels of oil equivalent have been produced in the field area since ConocoPhillips has ownership interests in seven production start-up. Total daily production in the GEA fields in production on the NCS, that are operated by was an average of approx. 164,000 barrels of oil others. As a license partner, our aim is to identify equivalent (gross) in 2019. added value and to maximize the portfolio. Therefore, we collaborate with the operator and Initially, the recovery rate was expected to be about relevant licensees to share operating knowledge to 17 percent, but this level has over five decades find economic, safe and sustainable solutions to increased to more than 50 percent. Drilling and water future operations. Assets on the shelf highlighted in yellow. 8 9 facility was originally designed as a one million barrels a Optimizing production is like returning serves day crude oil reception, processing, storage and on the court; a play with high pace, transshipment installation. Since 1975, the Terminal has maintained an overall uptime of close to 100 percent, with challenging techniques and a goal to deliver only 60 hours of unplanned shutdowns over 45 years. results reliably The Terminal also holds a very good safety record. Over a period of eleven years, there have been no significant process safety incidents, and no staff recordable injuries. - Mayooran Kiritharan Also, there have been no injuries for the entire workforce, Production Engineer including all contractors, over a five-year period. We will continue our efforts to focus on process and personal safety. Strategic role

The suitability for deep-water quay facilities was one of the reasons why Teesside was identified as a strategically appropriate site, integrated with Ekofisk production in the early 1970's. The terminal has four quays for crude oil, one of which can load oil and NGL products, and three dedicated quays for NGL products. The crude oil quays can receive tankers of up to 150,000 tonnes dead weight, and two of the NGL quays can receive ships up to 60,000 cubic-meters capacity for some products.

The system and the Teesside Terminal combined play a key role in transportation and processing infra - structures of and gas development. We will continue to hold this role into the future.

Over time, the Terminal has delivered long-term, highly skilled employment to the northeast of . Shippers' hydrocarbons have been exported from the terminal to industrial users across the UK and Europe, contributing to energy and industries. Products and services

The Terminal also fractionates NGL into ethane, propane and butane. Operations comprise both processing and The Teesside Terminal is located by the UK east coast. tanker-loading facilities covering a 285-acre site at Seal Sands, at the mouth of the river Tees. Crude oil and natural gas liquids from ConocoPhillips' Greater Ekofisk Area are delivered to Teesside as well as third party volumes from Teesside Operations Terminal other fields in the southern North Sea. The plant includes a stabilization section, an NGL section, ConocoPhillips is the operator of the Teesside Terminal utilities section, crude oil and NGL storage tanks and a port on the UK east coast and holds a 40 percent ownership of shipment. Hydrocarbons transported via the Norpipe interest. The facilities started operations in 1975, pipeline are fractionated to reduce the vapor pressure of marking a 45th anniversary in 2020. Oil and gas the crude oil. The stabilized crude oil is stored, ready for volumes from North Sea fields, including fields in the shipment at the tank farm, which comprises nine storage Greater Ekofisk Area, are transported by pipelines, via tanks each with 750,000- nominal capacity. the Norpipe system, to terminals in Teesside and Emden. A 443-kilometer pipeline brings the gas to The NGL volumes are separated into methane, ethane, Emden in , and a 354-kilometer oil pipeline propane and butane. Methane is used as fuel for the plant. transports oil and natural gas liquids (NGL) to the Ethane and butane are cooled to liquid state and stored Teesside Terminal. refrigerated in large insulated tanks prior to shipment. Propane is currently either directly loaded to ship or History and HSE exported by pipeline to a petrochemical customer on Teesside as nominated by shippers. In 2020, a new First oil was received at the terminal in 1975, and the pressurized storage for propane ship loading will become main processing plant was completed in 1979. The available.

10 11 11 Innovation, research and technology

In ConocoPhillips in Norway, we are determined to exploration data from more than 2000 wells on the NCS. Glider program enhance our innovative culture, as innovation is crucial This way, our geoscientists and engineers in the Norway to maintain the role as a key player on the Norwegian Exploration Team can more easily access data analytics A three-year program has been sanctioned to continental shelf (NCS). A dedicated team is relevant to evaluate new drilling opportunities. This study the impact on ecosystems from produced established to encourage all employees to participate in extensive database on wells gives ConocoPhillips in water and seismic activity through the Glider the further development of a data-driven company. Our Norway a more grounded approach to decision-making. In program. In 2019, it harvested large volumes of accumulated database for innovation currently holds 2019, The Brain was optimized to improve stability, reduce meteorological and oceanographic data, mapping more than 1,100 ideas, representing an important run time and add more data. fish and marine mammals, as well as registering source for improvements and transformations. the density of plankton in the upper layers of Research activities water, ref. Glider illustration below. The Glider Examples project has enabled data capture not possible with In 2019, ConocoPhillips’ research and development traditional research vessels and methods, In 2019, our Wells organization in Norway tested 21 portfolio in Norway consisted of 53 separate projects, resulting in unique and improved datasets new technologies that had never before been applied in aligned with the company’s strategy to support operational generating groundbreaking knowledge of life at the Greater Ekofisk Area. The new technologies were needs, improve efficiency and to secure access to sea. applied to increase production volumes, reduce time to operational equipment. perform operations and to reduce cost. Conventional Arctic Frontiers and traditional processes and tools have been Seabox challenged, routines and new systems tested, and ConocoPhillips is a year-long participant in the these efforts combined have improved our performance The full scale Seabox test has demonstrated reliability and Arctic Frontiers conference in Tromsø. and results. performance. Improvements have been identified, but The company was one of the initiators of the nothing that precludes further studies of potential new conference and has been an active partner and Another example of how we work to become more developments. Water has been injected into one Ekofisk sponsor since the beginning of 2007. Arctic innovative is The Brain Project. It has unlocked well over six months without jeopardizing injectivity. The Frontiers has established itself as an important paramount potential to fetch, combine and calculate big subsea system is aiming to simplify the process of arena for businesses, government and academia data to ensure a better foundation for finding new cleansing and conditioning the seawater used for injection to discuss geopolitical and scientific issues related drilling opportunities. The analytical tool is established into the reservoirs in order to increase oil recovery , ref. to the arctic. Arctic Frontiers has become a as an automated database, continuously updated with Seabox illustration above. leading, global conference. New technology and innovative work processes play a significant role in ConocoPhillips. I’m excited to further develop a data-driven company

– Rune Lekve Data & Analytics Lead

12 13 Fishing and environmental engagement have always been important to me. In our efforts to meet energy demands, it’s imperative that we find ways to cut emissions and minimize our footprint

– Harald Lura cable Upgrade of the waste Modified water Installation of a Use of new Installation of Replacement of Senior Environmental traversing all fields, most heat recovery unit on injection system, which flare gas re- technology batteries on diesel cranes recently with Eldfisk 2/7 Eldfisk, to phase out provides more power compressor on (CTour) reduces supply vessels. offshore on Advisor B, means full integration, diesel generators. to operations. Eldfisk. Previously hydrocarbons in This reduces Ekofisk and reducing emissions to air. flared gas is now produced water. emissions from Tananger base transported to diesel by 15 with electric production. percent. cranes.

NOx CO2

Annual NOx emissions The Ekofisk II Project in 1998 Over three decades, we Frequent tests of the Many first-generation facilities have have been reduced by reduced the total CO 2 have monitored the water column near our been removed and disposed. About 450 tons over the last emissions by more than 50 seabed in the field area. offshore installations 97 per cent of the materials have been five years. The Ekofisk percent from 2,5 to 1, 2 million Tests demonstrate that demonstrate that reused, or recycled into products such II Project in 1998 tons a year. From 2000 to 2018 conditions for marine life marine life thrives as reinforcement steel rods. contributed to reduction. different projects contributed to by our installations are better offshore than by further reduce CO 2 emissions good. the coast. by 160,000 tons.

Sustainable business activities

Sustainability is key to ConocoPhillips in Norway. We continue to focus on new improvements and efforts diesel driven power with steam power. The project is We recognize that human activity, including the burning to reach the zero emissions target on the Norwegian expected to reduce CO 2 emissions by 1,000 tonnes a year of fossil fuels, is contributing to increased continental shelf, together with the entire oil and gas and NOx emissions of 167 tonnes a year. concentrations of greenhouse gases in the atmosphere community. that can lead to adverse changes in global climate. We Further, three platform supply vessels installed hybrid power do not debate the science. In 2019, a ConocoPhillips work group was established in solutions, reducing diesel consumption up to 15 percent, Norway to develop a roadmap of alternatives to further including the decrease of associated NOx and CO 2 emissions. According to IEA projections, the world will require reduce emissions of greenhouse gases in the GEA. significant oil and gas resources to help meet energy Emissions to air in the GEA were slightly lower with 0.89 Norwegian authorities have set the maximum oil-in-water O needs through 2040, even if the 2 C aim of the Paris million tonnes of CO 2 in 2019 compared to 0.90 million content in produced water to 30 mg/l. The oil in water Agreement is achieved. This is why we focus on tonnes in 2018, while total emissions of NOx in 2019 was concentration in the GEA was a record low 6.9 mg/l in 2019, minimizing our environmental footprint in our activities. 1,856 tonnes versus 1,476 tonnes in 2018. down from 7.2 mg/l in 2018. In the Greater Ekofisk Area (GEA) in the North Sea, we have implemented numerous measures over several By end of 2019, a new power cable from the Eldfisk Visit www.conocophillips.com for more information about decades, some highlighted in this illustrated overview. Complex to Eldfisk 2/7 B was installed to phase out global inititatives, including the Sustainability Report.

14 15 Others: 0.8 billion Over five decades, the industry has created

Eldfisk: 1 billion enormous value; benefitting the larger society and helping to develop businesses, Ekofisk: 4.2 billion jobs and knowledge clusters. Continuing this billion billion 29 OG team play is key 6 164.000 6,4 Total production in barrels oil Gross daily production in barrels Total volume injection water, equivalent from start-up through 2019. oil equivalent in 2019 from barrels, since the start-up. Ekofisk, Eldfisk and Embla. – Embla Galdal Graduate Owners Lenders 17-18 Employees % More Taxes than and 50% Goods fees and service billion NOK 73 2500 NORDLAND Expected Expected recovery Since production start at Ekofisk in 1971, the fields in the recovery rate rate with water Greater Ekofisk Area have created value worth around NOK in 1971. injection and 2509 billion in current NOK value ($ 393 billion). Taxes and redevelopments. fees amount to NOK 1197 billion (2019) ($ 189 billion).*

200 in Teesside 1800 38 in Norway TRØNDELAG 2000 2000 employees in ConocoPhillips Annual CO 2 emissions in 2019: 193 Norway and the UK. 893.000 tons, less than half since 1998. MØRE OG ROMSDAL 37 Operator of PL 018: Teesside INNLANDET ConocoPhillips Skandinavia AS Licensees as of 1 Jan 2020: 543 The Teesside terminal receives VESTLAND ConocoPhillips Skandinavia AS (35.112 %), Total E&P 250,000 bbls oil/day (Jan. 62 VIKEN 36 Norge AS (39.896 %), Vår Energi AS (12.388 %), 2019) Total received since Equinor Energy AS (7.604 %), AS (5.000 %). 1975 – 6.8 billion bbls. 131 VESTFOLD OG TELEMARK 933 370 Value creation and ripple effects AGDER

The discovery of Ekofisk in 1969 was a catalyst for value also appears in annual national budgets Norway’s development towards becoming a modern through contract awards to the oil service industry, and high-tech society with a world-leading oil service creating employment, activities and significant ripple Ekofisk workers across Norway industry, effective regional policies through broad- effects throughout Norway. Retaining this expertise based geographic employment and ripple effects. in the future is key to transfer knowledge and This value creation has been refined over five competence to other industries, while also extending About 3000 people work in the GEA in total. This decades and laid the foundation for further knowledge the entire value chain. The Greater Ekofisk Area includes ConocoPhillips employees and contractors. development. Although significant value created from (GEA) has enabled major value creation and ripple They work on platforms, rigs and vessels, and they the production of oil and gas is transferred to the effects over 50 years illustrated in this overview. live in all counties and 240 municipalities across Government Pension Fund Global, a great deal of Norway, while about 500 workers live abroad. In addition, operations receive support from 900 * The numbers and categorization presented in this pie chart is only for illustration purposes and has been estimated using assumptions to arrive at a number representing the gross value creation for the Greater Ekofisk Area. The estimate does not capture the true tax payments of individual licensees, or in any other way claim to be an infallible number. ConocoPhillips' onshore staff.

16 17 this balance, while the company also offers a A variety of professional disciplines are wide variety of welfare and health programs. required in the race to improve our Employees are invited to participate in the company's stock saving scheme, in addition to performance. We are always in need of new established pension and insurance plans. bright minds for our workplace to become Wide variety of skills even better In ConocoPhillips, a wide variety of skills are necessary to perform our business activities, and we are looking for professionals with master's – Gry Iren Sandal degrees within finance, accounting, wells, drilling, HR & Payroll Advisor , technology, geosciences, health, safety and environment, information technology, supply chain, and other disciplines. Early career program

The purpose of the ConocoPhillips graduate program is to ensure that we have qualified employees within technical disciplines and in functions such as HR, IT, supply chain and finance. We have established a two-year development program for technical disciplines which includes individually tailored, technical and professional training, challenging assignments and rotations. This also includes hands-on training from day one, with a sponsor, mentor and buddy to guide you through your assignments. For disciplines such as HR and finance the graduate program lasts one year, About 900 emloyees work in a dynamic environment at the Tananger offices. including similar elements as for technical disciplines. ConocoPhillips also has programmes for summer internships and apprentices. A main focus in all programmes is working in People and recruitment multidisciplinary teams. You could intern anywhere. This isn't anywhere. Within the Norway business unit, ConocoPhillips employee networks and training programs. All our employs about 2,000 professionals, where 200 work development programs are aligned with our SPIRIT What matters most when you are searching for a from the Teesside Operations Terminal in the UK. The values (safety, people, integrity, responsibility, graduate program, summer internship or other 1,800 employees are divided into two groups, innovation, teamwork). apprenticeship? Is it gaining realistic work where about half the employees work from the experience? Is it enhancing your technical skills Tananger offices in the Stavanger region, and the other Diversity and inclusion or making a meaningful impact on the world half work offshore in the Greater Ekofisk Area in the around you? In ConocoPhillips, all of this The average age within our workforce in Norway and North Sea. matters. As a graduate, summer intern or as an the UK in 2019 was 46, and 23 percent of our apprentice offshore, you may work alongside Teams and values employees are women, while women in senior positions your peers on challenging projects in a team- had an increasing trend to 24 percent. Over the last few oriented environment. You will not only Our collaborative teams represent the heart of our years, we have had a significant focus on recruitment to experience a sense of accomplishments, but also workplace. They are our greatest asset in our efforts to ensure transfer of knowledge as new generations are see the result of your individual contributions, improve and transform. We strongly believe that entering the workplace. Also, diversity and inclusion has adding to the overall success of ConocoPhillips. working in multidisciplinary teams boosts professional become a vital part of our business agenda, and our In our early career programs, you will have development and business understanding. In policy is to hire the most competent and skilled access to mentors and other experienced ConocoPhillips, we are fueled by innovative and individuals regardless of cultural background, religion, professionals to merge into the ConocoPhillips responsible people who are more than their age, gender or disabilities. The average sick leave in culture, stretching your career horizons. qualifications and job titles. It's not just what we do, it's 2019 was approx. 3.7 percent. how we do it. Integrated teams across disciplines are Benefits and compensation Application deadline our greatest strengths. That's why we work together to

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: o t o h 18 P 19 Who We Are Norway BU

Our First to come, Vision last to leave. Our We produce energy that powers civilization and makes a difference in our communities Purpose while creating value for our corporation

Always safe and reliable Our Strategic Full contribution from all Who We Are Transformation of the way we work Priorities Sustainability for business

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