ConocoPhillips (COP) on Tuesday said it is targeting free cash flow of about $50 billion based on a $50-a-barrel price for West Texas Intermediate, and annual capital expenditures averaging less than $7 billion as part of its operating and financial plan from 2020 to 2029.

The company anticipates $30 billion in share buybacks and about $20 billion in ordinary dividends over the 10-year period.

It said it plans to divest a 25% stake in its Alaska assets “consistent with the company’s historical practice of not funding major-project expenditures at 100%.”

ConocoPhillips said it projects underlying compound annual production growth averaging more than 3%. It also anticipates growth in return on capital employed of 1 to 2 percentage points annually.