ConocoPhillips is an exploration company. The company explores, produces, transports and markets crude oil, bitumen, natural gas, natural gas liquids and liquefied natural gas on a worldwide basis. It operates through the following business segments: Alaska, Lower 48, Canada, Europe and North Africa, Asia Pacific and Middle East, and Other International. The Alaska's segment is the largest producer and one of the largest owners of state and federal exploration leases. The Lower 48 segment has high-quality positions in the North American unconventionals. The company's Canadian operations are comprised primarily of natural gas fields in western Canada and oil sands projects in northeastern Alberta. ConocoPhillips has operated in Europe for more than 40 years, with significant developments in the U.K. an Norwegian sectors of the North Sea. The company's Asia Pacific and Middle East operations consist of producing fields in China, Indonesia, Malaysia, Qatar, Australia and Timor-Leste. The