ConocoPhillips Indonesia has not laid off (PHK) 300 of its employees in Indonesia

(May 15, 2015) -- Due to the potential of an extended period of low oil and gas prices, necessary measures are being taken to ensure ConocoPhillips can sustain its business and operations during this period, particularly in Indonesia.

ConocoPhillips is currently reviewing all of its activities to ensure that they are conducted in the most efficient way possible while maintaining our safety culture. Operation activities are reduced, optimizing all available resources. This will impact some projects: some still continue but many of them cancelled, put on hold, due to end soon or cease. These are in alignment with SKK Migas? advice to review activities to mitigate the current prices.

In the case of the 17 workers in Anambas, they were not laid off (PHK), but their contracts (Perjanjian Kerja Waktu Tertentu) with one of ConocoPhillips Indonesia?s contractors had ended on April 30, 2015 and has not been extended. Based on a recent meeting on May 12, 2015 in Matak, Anambas, ConocoPhillips Indonesia has conveyed alternative solution for those whose contract has ended: four of these workers have been offered to work under another contractor, as there is a match between the job requirement and the workers capabilities. Meanwhile, the rest will be offered in-kind support to set up their own small business.

Your report that we have reduced our workforce from 500 to 230. This is incorrect. The workers impacted are of those from various contractors from our work areas in Anambas (Riau Island), Jakarta and South Sumatra, due to the end of the contract or the work has ceased. The nature of the Oil & Gas business is that projects start and manpower resources are added to perform the work necessary to complete the project. Later, at the end of the project, the contract ends and the workforce is released and becomes available for other company?s projects.(end of release)