ConocoPhillips, Anadarko Announce Start Up of Second Alpine Satellite Field.

HOUSTON -- ConocoPhillips [NYSE:COP] and Anadarko Petroleum Corporation [NYSE:APC] today announced the successful startup of a second Alpine satellite oil field, known as Nanuq. The Nanuq oil field is located three miles south of the Alpine oil field on Alaska's North Slope. Nanuq is expected to have peak production of approximately 15,000 barrels of oil per day (BOPD) in 2008.

Discovered in 2000, Nanuq was developed exclusively with horizontal well technology and will employ gas and water injection enhanced oil recovery, similar to the Alpine field. The currently approved plan for the Nanuq Project development will entail drilling of approximately 19 wells.

Construction of Nanuq, and the first Alpine satellite, Fiord, involved more than 1,400 people over the past two winter seasons. To minimize environmental impact, 50 miles of temporary ice roads constructed during winter were used to move construction equipment, facilities, drilling rigs and drilling supplies to the site and nearby Alpine oil field. Alpine is located 35 miles west of Kuparuk on the border of the National Petroleum Reserve-Alaska.

Production from Nanuq and Fiord will be processed through the existing Alpine facilities. Together, the two fields represent approximately $675 million in capital reinvestment and are expected to have peak production of approximately 35,000 BOPD in 2008.

In addition to the Fiord and Nanuq satellites, ConocoPhillips is pursuing state, local and federal permits for additional Alpine satellite developments, including the recently announced Qannik reservoir.

Alpine, Nanuq and Fiord oil fields owners are ConocoPhillips Alaska, Inc. (a subsidiary of ConocoPhillips), 78 percent, and Anadarko Petroleum Corporation, 22 percent.

ConocoPhillips is an integrated petroleum company with interests around the world. For more information, go to www.conocophillips.com.

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