Clair

Operator: BP (28.6%). ConocoPhillips ownership interest: 24.0%.
The Clair field extends over 54,300 acres across five blocks in the West of Shetland Area. Government approval was granted in 2011 for Clair Ridge, which is the second phase of the Clair development. It will comprise a drilling and processing platform with 36 slots, bridge-linked to a quarters and utilities platform. Production start-up for Clair Ridge is scheduled for 2016.

ALBA, MACCULLOCH AND NICOL
ConocoPhillips entered into agreements in December 2011 to sell its interests in the Alba, MacCulloch and Nicol fields to Endeavour Energy U.K. Limited. These sales are expected to be comleted in 2012.

STATFJORD
ConocoPhillips entered into an agreement in January 2012 to sell its interests in Statfjord to Centrica plc. Statfjord is located across both the Norwegian and U.K. sectors of the North Sea. This sale is expected to be completed in the second quarter of 2012.