ConocoPhillips to Expand Europe's Largest Combined Heat and Power Station.

HOUSTON -- ConocoPhillips [NYSE:COP] today announced the approval of an investment of approximately $400 million (GBP 210 million) to expand the capacity at its Immingham Combined Heat and Power (CHP) plant in the United Kingdom by 450 Megawatts (MW), from 730 MW to 1,180 MW. This expansion would make Immingham CHP one of the worldeIUs largest and most efficient power stations and an additional source of low carbon heat and power for the UK. Commercial operation of the expansion is currently expected to start in the summer of 2009.

The plant provides steam heat and electrical power to ConocoPhillipseIU Humber refinery and steam heat to TotaleIUs Lindsey oil refinery, both adjacent to the plant in North Lincolnshire, UK. By combining the production of heat and power, Immingham CHP uses 20 percent less fuel and produces 25 percent less carbon than the alternative of producing heat and power separately. Immingham CHP will now contribute 12 percent toward the UKeIUs CHP target of 10 Gigawatts by 2010.

"The expanded CHP capacity demonstrates ConocoPhillipseIU commitment to include lower carbon technologies in the companyeIUs portfolio," said Bob Hassler, president of ConocoPhillips European downstream operations. "This major long-term investment by ConocoPhillips is timely in view of the UK governmenteIUs ongoing industry support for combined heat and power. This support has included the granting of the Climate Change Levy exemption for the planteIUs power output and the more favorable treatment for CHP operations in the second phase of the European UnioneIUs Emissions Trading Scheme.eIN

Energy Minister Malcolm Wicks said, eIuCombined heat and power plants like the one being expanded at Immingham are designed to produce both electricity and usable heat. They bring environmental benefits due to their very high levels of efficiency.eIN

The Immingham CHP commenced commercial operation late 2004, and is one of the largest, cleanest and most efficient of its type in Europe. The expanded plant, together with ConocoPhillips' Humber refinery, is strategically placed to realize the vision of an ultra-low-carbon integrated energy hub able to supply heat and power to a wide range of local industrial customers. If current studies demonstrate economic feasibility, the enlarged Immingham CHP could be modified to utilize gasification technology to operate as a eIclean coaleIU facility with carbon dioxide stored or used for enhanced oil recovery.

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

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