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HOUSTON, TX and TREVOSE, PA, USA, April 21, 2008 -- ConocoPhillips [NYSE: COP], and GE Water & Process Technologies, a unit of General Electric Company [NYSE:GE], today announced that GE has become an equal co-venturer in ConocoPhillips' Water Sustainability Center (WSC) in Qatar. Set within the Qatar Science & Technology Park (QSTP) in Doha and expected to open in late 2008, the WSC will research and develop water solutions primarily for the petroleum and petrochemical sectors, but also will focus on municipal and agricultural solutions. "We are very pleased that GE will join ConocoPhillips in this important endeavor," said Mike Stice, president, ConocoPhillips Qatar. "Our vision is for the WSC to become ConocoPhillips' global corporate center of excellence for water-related research and expertise. GE's leading-edge technologies in chemicals, equipment and advanced membranes, coupled with ConocoPhillips' industrial applications and test facilities, will help us achieve this goal," he added. On average, approximately three barrels of water are produced for every barrel of oil produced worldwide. However, this water may contain residual components that limit its use without extensive treatment. ConocoPhillips and GE will work to develop more efficient and cost-effective treatment technologies at the WSC. The collaboration will leverage GE's global scale and broad water portfolio with ConocoPhillips' understanding of the petroleum and petrochemicals industries to deliver innovative water solutions to customers in the Middle East region and around the globe. "This collaborative effort builds upon GE's commitment to delivering innovative technologies that drive growth and deliver economic and environmental benefits to our customers," said Jeff Garwood, president and CEO, GE Water & Process Technologies. "We are pleased to be a co-venturer in the WSC and we look forward to harnessing the collective strength of GE and ConocoPhillips as we explore solutions that address the world's most pressing water challenges." "Water sustainability is vital for Qatar and the Middle East, and central to QSTP's strategy of developing key technologies demanded by the local community," said Dr. Tidu Maini, executive chairman, Qatar Science & Technology Park. "I am very pleased to see ConocoPhillips and GE join forces to advance research in this field. This is a great example of the vibrant collaboration that QSTP is designed to foster." About 75 percent of the WSC's work will focus on the petroleum and petrochemical sector and about 25 percent on non-industrial sectors, primarily municipal and agriculture. Proposed uses for treated water could include crop irrigation, livestock watering, wildlife habitats, and industrial cooling, potentially leaving more fresh water available for domestic use. A longer-term goal of the WSC will be to sponsor sustainable development projects that benefit the local community such as programs to encourage water conservation, exhibitions and public or industry workshops. The WSC also is expected to collaborate with relevant Qatari organizations to develop a Water Visitors' Center that will promote water conservation and technology applications to the residents of Qatar within the context of a national awareness campaign. About ConocoPhillips About GE Water & Process Technologies About Qatar Science & Technology Park 
Artist rendering of Qatar Science & Technology Park. ConocoPhillips Contacts: Nancy Turner (ConocoPhillips media) Gary Russell (ConocoPhillips investors) GE Water & Process Technologies Contacts: Ellen Mellody (GE media) Qatar Science & Technology Park Contacts: Ben Figgis CAUTIONARY STATEMENT FOR THE PURPOSES OF THE "SAFE HARBOR" PROVISIONS OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995 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 our revenues, income, earnings and other financial items, our plans and objectives for the future, future economic performance, or other projections or estimates about our 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 our 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 management's expectations, estimates and projections about ConocoPhillips 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 ConocoPhillips' filings with the Securities and Exchange Commission (SEC). Unless legally required, ConocoPhillips undertakes no obligation (and expressly disclaims any such obligation) to update or alter its forward-looking statements whether as a result of new information, future events or otherwise. |
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