ConocoPhillips Alaska
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    Who We Are

    We have been Alaska’s largest oil producer and a leader in oil and gas exploration and development for more than 50 years.

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    We are Alaska's oil and gas company. GO

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    A culture based on our values. GO

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    Investing in Alaska's energy future. GO

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    ConocoPhillips Alaska's Executive Team. GO

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    What We Do

    ConocoPhillips has a long and proud history in Alaska as the state’s largest oil and gas producer.

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    Policy reform leading to new investment, a stronger economy, and a more prosperous future. GO

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    Operating in the Arctic presents great opportunities along with great challenges. GO

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    Sustainable Development

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    In Communities

    Helping improve the quality of life in the communities where we live and work is a fundamental value for us.

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    Community Investment

    We donate millions of dollars to community organizations annually. GO

    Grant Applications

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ConocoPhillips Announces 2014 Capital Budget of $16.7 Billion and Affirms Production Growth Target

​​December 6, 2013

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ANCHORAGE – ConocoPhillips (NYSE: COP) announced a 2014 capital expenditures budget of $16.7 billion for continuing operations. Investments during 2014 will target the company’s diverse portfolio of global opportunities. Approximately 55 percent of the budget is allocated toward North America and 45 percent toward Europe, Asia Pacific and other international businesses. The ConocoPhillips 2014 capital budget for Alaska is $1.7 billion, up from $1.1 billion budgeted for 2013.

The increase in the Alaska capital budget is primarily due to spending for development of CD-5 as well as other new projects announced since the passage of SB21, including an additional drilling at Kuparuk, early gravel work for Drill Site 2S, and preliminary engineering and permitting for GMT1. Funding will also go toward maintenance, replacement and repair activities at Kuparuk and Alpine.

The $1.7 billion capital budget for 2014 is more than double the capital spent in 2012 in Alaska ($828 million) and is about $900 million higher than what was spent in 2011 ($775 million). The work programs at Kuparuk and Alpine will generate more than 1,000 additional jobs this winter.

 

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