November 9, 2016

Permanent P&A –managing the HSE challenge

Cautionary StatementThe following presentation includes forward-looking statements. These statements relate to future events, such asanticipated revenues, earnings, business strategies, competitive position or other aspects of our operations, operatingresults or the industries or markets in which we operate or participate in general. Actual outcomes and results may differmaterially from what is expressed or forecast in such forward-looking statements. These statements are not guarantees offuture performance and involve certain risks, uncertainties and assumptions that may prove to be incorrect and are difficultto predict such as oil and gas prices; operational hazards and drilling risks; potential failure to achieve, and potential delays inachieving expected reserves or production levels from existing and future oil and gas development projects; unsuccessfulexploratory activities; unexpected cost increases or technical difficulties in constructing, maintaining or modifying companyfacilities; international monetary conditions and exchange controls; potential liability for remedial actions under existing orfuture environmental regulations or from pending or future litigation; limited access to capital or significantly higher cost ofcapital related to illiquidity or uncertainty in the domestic or international financial markets; general domestic andinternational economic and political conditions, as well as changes in tax, environmental and other laws applicable toConocoPhillips’ business and 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). We caution younot to place undue reliance on our forward-looking statements, which are only as of the date of this presentation or asotherwise indicated, and we expressly disclaim any responsibility for updating such information.

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2November 9, 2016

Agenda

• P&A experience to date

• Engineering a P&A operation

• Balance between environment and working environment

• Is there alternative plug techniques/technology which is better from a HSE point of view?

• HSE upside from a “risk based P&A” approach

Useful info- COP presentation @ NOG P&A seminar, 2014- Shale gas presentation @ NOG P&A seminar, 2014- SPE 148640 (P&A), SPE 180555 (annulus barrier), SPE 119321 (annulus barrier) & SPE 168478 (Elgin blow out) - COP presentation @ NOG P&A seminar, 2016

3 November 9, 2016

Eldfisk 2/7 B – P&A 6 wells

Platform Rig - 2016

P&A experience to date

Tor – P&A 12 wellsEkofisk 2/4 B – P&A 22 wells

2 wells 2016 (completed)

Future 20 wells

Ekofisk 2/4 A – P&A 23 Wells

23 wells - Ongoing

Eldfisk 2/7 A – P&A 27 wells

Eldfisk 2/7 B – P&A 19 wells

Platform Rig - 3 wells 2016 (completed)

Future 16 wells

4

Medium Term P&A +/- 70-100 wells

Structural Integrity Driven

Short Term P&A

Well Integrity Driven

Long Term P&A > 220 wells

Economic Life Driven

Ekofisk 2/4 C – P&A 23 wells

November 9, 2016

Engineering a P&A – prepare for the drilling unit

The drilling platform – over the production platform

- The Rowan Gorilla VI over 2/4 Ekofisk Alpha

- Wellhead and production tree below weather deck on the Ekofisk Alpha

- Air gap between the units selected to accomodate light well intervention work to prepare wells for P&A

- Candidate well tied back to JU over a HP drilling riser

- BOP hidden inside drilling unit cantilever

- During production and well intervention: all returns routed back to production platform and production system

- During P&A: all pumping and returns routed back to drilling platform

- RG 6 operation:- +/- 100 person POB- 1,2 MW generator capacity- +/- 20 helicopter

landings/week- 6 supply sailings/week

November 9, 20165

Engineering a P&A – the PP&FG plot

November 9, 20166

PP/FG plot from: https://www.ikonscience.com/solutions/drilling

TR DHSV

20" Conductor GL-g

as a

nd S

W

GL-g

as a

nd S

W

GL-g

as a

nd S

W

GL-g

as a

nd S

W

GL-g

as a

nd S

W

CTC

9 5/8" Integral csg hanger

13-3/8" Casing

Min setting depth Miocene plug

Mid Miocene

Min setting depth res plug

5 1/2" Scab liner top packer

Seal stem assy

9 7/8" TOC (CBL)

TOC above retainer calc

Cmt retainer

5 1/2" liner top packer

9-5/8"x9-7/8" Prod Casing

Top Ekofisk

Top Perf

5 1/2" liner

A P

UPR

SS

M PR

LPR LPR

M PR

LPR

M PR M PR

LPR

A P

UPR

SS

Nippling topside Retrieve tubing Set reservoir plugs Set Miocene plugs Cut 9 5/8" casing Pull 9 5/8" casing

A P

UPR

SS

UPR

SS

A P A P

UPR

SS

M PR

LPR

Perf 13 3/8" casing

A P

UPR

SS

M PR

LPR

| | | | | | | | | | | |

Engineering a P&A – the P&A process

TR DHSV

20" Conductor

GL-g

as a

nd S

W

GL-g

as a

nd S

W

GL-g

as a

nd S

W

GL-g

as a

nd S

W

GL-g

as a

nd S

W

CTC

9 5/8" Integral csg hanger

13-3/8" Casing

Min setting depth Miocene plug

Mid Miocene

Min setting depth res plug

5 1/2" Scab liner top packer

Seal stem assy

9 7/8" TOC (CBL)

TOC above retainer calc

Cmt retainer

5 1/2" liner top packer

9-5/8"x9-7/8" Prod Casing

Top Ekofisk

Top Perf

5 1/2" liner

A P

UPR

SS

M PR

LPR LPR

M PR

LPR

M PR M PR

LPR

A P

UPR

SS

Nippling topside Retrieve tubing Set reservoir plugs Set Miocene plugs Cut 9 5/8" casing Pull 9 5/8" casing

A P

UPR

SS

UPR

SS

A P A P

UPR

SS

M PR

LPR

Perf 13 3/8" casing

A P

UPR

SS

M PR

LPR

| | | | | | | | | | | |

7 November 9, 2016

Engineering a P&A – the drilling fluid loop

8

Coming out of the loop the fluid is:- Recycled- Transported/injected- Transported/onshore

treatment plant- Offshore

processed/discharged- Offshore discharged

May enter into the loop:- Cement spacer (100% PLONOR)- Cement (99% PLONOR)- Annulus content- Formation fluids- Pit (open to atmosphere)

- Pump- Work string

- BHA- Csg/work string annulus

- Bell nipple (OTA)- Flow line (OTA)

- Shaker (OTA)- Back to pit (OTA)

November 9, 2016

Balance between environment and working environment

• Potential exposure for returns -on the platform• Any wellhead or production tree

system work

• Potential exposure for returns -on the P&A unit (the drilling rig)• Rig floor• Shaker room• Mud pits• Separation system• Load stations

• Potential exposure for returns -on the vessel• Load stations• Ventilation ports

• Potential exposure for returns -on the receiving unit • Load stations• Injection pits/tanks or ditto onshore

• Other risks connected to:• Crane operation• Dropped Objects (DROPS)• Vessel/hose time• Tanks (LEL, entry - O2 level)

9 November 9, 2016

Better plug techniques from a HSE point of view?

November 9, 201610

Today: Best practice 2.2 day/plug

Technical limit: 1 day?

Risk based P&A?

November 9, 201611

Term used for both evaluating existing cement and for a risk assessment of leak consequences.

Neither included in current COP P&A strategy. The industry discuss when shale gas is a «source of inflow». This is a important discussion for us all.

Questions?