ConocoPhillips SuccessStory

ConocoPhillips is a reputed American multinational energy corporation. Its headquarters are situated in the famous Energy Corridor district of Houston, Texas in the United States. ConocoPhillips has earned the praise of many for being the world's largest independent pure-play exploration and production company. Not only that, but also it’s a Fortune 500 company. This famous company was initially created through the merger of the reputed American oil companies Conoco Inc. and Phillips Petroleum Co. in 2002 on August 30^th.

Operations

The main focus of ConocoPhillips is mainly in exploring and discovering, developing and producing oil as well as natural gas on a global scale. The company operates out of regions such as Alaska, Asia Pacific, Canada, Europe and Middle East, Lower 48 and Latin America, to mention a few as per geographical definitions.

Trajectory

In 1998, the company entered into the North Caspian Sea Production Sharing Agreement (NCSPSA) agreement, which gave it access to 10.5 blocks news Kazakhstan coast. And the company currently has ownership of 8.4% of the total shares of the consortium that was legally exploiting Kashagan oil fields, making it a force to be reckoned with. But in the later years, ConocoPhillips in precaution as to reduce its cash to fund its capital program, debt reduction and dividend payments has informed the Kazakhstan government to sell its non-core shares that exist in Kazakhstan. An offer of 5 billion US dollars has been made by a company called ONGC Videsh to buy the 8.4% shares from ConocoPhillips.