“We are full compliance with US sanctions, a company spokesman said.

Conoco has a non-operating 16 percent interest in the Waha concessions in Libya. Net oil production averaged 46,000 barrels per day in 2010, versus 45,000 barrels per day in 2009, according to a regulatory filing.

In the 2010 fourth quarter, Conoco’s daily output averaged 1.73 million barrels of oil equivalent.