Saudi Aramco and ConocoPhillips announce signing of Memorandum of Understanding

Notes and media contacts

Additional information about Saudi Aramco can be found on the following website: www.saudiaramco.com. ConocoPhillips is an integrated petroleum company with interests around the world. For more information, go to www.conocophillips.com.

This press release contains forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements that contain projections about revenues, income, earnings and other financial items, plans and objectives for the future, future economic performance, or other projections or estimates about assumptions relating to these types of statements. These statements usually relate to future events and anticipated revenues, earnings, business strategies, competitive position or other aspects of operations or operating results. In many cases you can identify forward-looking statements by terminology such as "anticipate," "estimate," "believe," "continue," "could," "intend," "may," "plan," "potential," "predict," "should," "will," "expect," "objective," "projection," "forecast," "goal," "guidance," "outlook," "effort," "target" and other similar words. However, the absence of these words does not mean that the statements are not forward-looking. The forward-looking statements are based on the expectations, estimates and projections of Saudi Aramco and ConocoPhillips about their respective businesses and the petroleum industry in general on the date this statement was released. These statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions that are difficult to predict. Further, certain forward-looking statements are based on assumptions as to future events that may not prove to be accurate. Therefore, actual outcomes and results may differ materially from what is expressed or forecast in such forward-looking statements. Economic, business, competitive and regulatory factors that may affect ConocoPhillips' business are generally as set forth in their filings with the Securities and Exchange Commission (SEC). ConocoPhillips is not under any obligation (and expressly disclaim any such obligation) to update or alter these forward-looking statements whether as a result of new information, future events or otherwise.

FOR FURTHER INFORMATION CONTACT:

ConocoPhillips:

Phil Blackburn
Downstream Communications
ConocoPhillips
281-293-1809

Saudi Aramco:

Jamal T. Kheiry
International Media Relations
+966-3-874-5350