46 Conoco Phillips

2015 SPIRIT Awards:Business Excellence and Wellness demonstrate the value of teamwork

BY JAN HESTER

Business Excellence20K JOINT DEVELOPMENT FRAME AGREEMENT

To access the technologies required to develop deepwater assets in basins with high pressures and high temperatures (HPHT), the team evaluated, negotiated and executed a 20,000 psi

THIS FINAL INSTALLMENT OF THE 2015 SPIRIT AWARDS HIGHLIGHTS RECIPIENTS IN

BUSINESS EXCELLENCE AND WELLNESS. BOTH CATEGORIES RECOGNIZE TEAMS WHO

HAVE WORKED COLLABORATIVELY AND CREATIVELY TO ACHIEVE SUCCESS. RECIPIENTS

OF THE BUSINESS EXCELLENCE AWARDS EXEMPLIFY INNOVATION, IDENTIFYING

OPPORTUNITIES TO IMPROVE PROCESSES AND PROCEDURES AND EXECUTING CREATIVE

SOLUTIONS. THE WELLNESS AWARD REPRESENTS TEAMS WHOSE COMMITMENT TO

HEALTH AND WELL-BEING BENEFITS THE PEOPLE OF CONOCO PHILLIPS.

(20K)/350 degrees Fahrenheit subsea produc-tion system joint development agreement ( JDA) with Anadarko, BP, FMC and Shell. Conoco-Phillips’ engagement helped create a unique producer/supplier agreement that drives industry

2015 SPIRIT AWARDS

47spirit Magazine

standardization via a single set of specifications. “The JDA enables Conoco Phillips to influence the design and qualification of HPHT 20K subsea systems, develop internal capabilities and ensure technology access for future developments,” said Team Lead Tegan Marroquin. The JDA was also leveraged into frame agreements providing Conoco Phillips top tier pricing and preferred customer status globally.

20K Joint Development Frame Agreement Team

Tegan Marroquin, team leadChance HardieKarla BowerTerri Flinner

Christopher GabrielChris KocurekTony RayShamim Sulema

2015 SPIRIT AWARDS

Business ExcellenceFMV METHOD OF INTEREST APPORTIONMENT

By electing the fair market value (FMV) method for apportioning corporate interest expense between foreign and U.S. taxable income, the Conoco Phillips Tax department generated $110 million in tax benefits for 2013 and 2014. Expected future tax benefits are approximately $50 million annually. “Using the FMV method reduces cash taxes, incrementally lowers the cost

FMV Method of Interest Apportionment Team

Heather Crowder, team leadAstri AldenKim AshlockKurtis BondBen CarlsonAlan CarruthTony ChayaWilliam CorbridgeElmo GoreMichael GriffinLars HelgelandAdrian JeffersonChad JenkinsRandolph JohnsonIda KamaruddinDoris LeeEdwin Loftis

Thomas McKnightSarah McLeodJuan MolinaStuart NunnDane PaddonJosh PrattTrish RiccioChristopher RobertsonPaul RuschBruce SagerMarissa StaplesJoanne TaylorBoriana VitanovJ.W. WesevichPetra WindgaetterColin Wolfe

of borrowing and benefits earnings,” said Team Lead Heather Crowder. “The result is a significant, long-term contribution to the company’s financial results.” Because this approach involved a review of the entire portfolio of assets, it required assis-tance from all business units. The global collabo-ration employed exemplifies business excellence across the organization.

Heather Crowder

Tegan Marroquin

Bartlesville team members, from left: Chad Jenkins, Ben Carlson, Elmo Gore, Kim Ashlock and Marissa Staples