ConocoPhillips increases reserves estimate

By OGJ editors
HOUSTON, Feb. 24 -- ConocoPhillips reported preliminary net additions to proved oil and gas reserves of 1.553 billion boe for 2005, bringing total reserves to 9.4 billion boe.

Production last year totaled 675 million boe.

The reserves additions reflected an increase in the company's interest in OAO Lukoil to 16.1% at yearend, its return to Libya, and extensions and discoveries in Qatar, the US, and the Asia-Pacific region.