Release: ConocoPhillips announces 1st production from North Belut field

(JAKARTA, Dec 3, 2009) --- ConocoPhillips Indonesia Inc. Ltd. is pleased to announce another milestone from its South Natuna Sea Block B Production Sharing Contract (PSC). On 16 November 2009, production commenced from the newly developed North Belut field. It is planned to ramp up to sustained gas production rates in excess of 200MMscfd and condensate and LPG of over 20,000 barrels per day in 2010. An active and continuing development drilling program will add this production capacity from start up throughout 2010.

The North Belut field is part of the ongoing development of gas and associated liquids within Block B to meet existing long-term gas sales obligations to Malaysia. The project includes drilling and completing numerous wells; engineering, procurement, construction and installation of two wellhead platforms, an intrafield pipeline, one central processing platform capable of processing condensate-rich gas, and export pipelines to the Kerisi pipeline end manifold where it will connect with the existing Block B pipeline infrastructure. The Liquefied Petroleum Gas (LPG) produced will supply the Indonesian domestic market in support of the Government?s kerosene to LPG conversion program.

The North Belut field is located offshore in the South Natuna Sea and is about 1180 kilometers north of Indonesia?s capital city of Jakarta. ConocoPhillips operates the South Natuna Sea Block B PSC and holds a 40 percent interest. INPEX Natuna Ltd. holds 35 percent and Chevron South Natuna B Inc. holds 25 percent.(end of edited release)