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Total Average Daily Production in 2009: 55 MBOED
Major Office Locations: Moscow |
Polar Lights
Operator: Polar Lights Co.
Co-venturers: ConocoPhillips (50.0%), Rosneft (50.0%)
Polar Lights Co. (PLC) is a Russian limited-liability company establishedin January 1992 to develop the Ardalin Field in the Timan-Pechora Province in northwestern Russia. PLC started producing oil from the Ardalin Field in 1994 and has since developed five satellite fields. PLC averaged net production of 9 MBD in 2009.
Naryanmarneftegaz Joint Venture
Operator: OOO Naryanmarneftegaz (NMNG)
Co-venturers: LUKOIL (70.0%), ConocoPhillips (30.0%)
As part of a larger strategic alliance, ConocoPhillips entered into an agreement with LUKOIL in 2004 to create a joint venture to develop oil and natural gas resources in the northern part of Russia’s Timan-Pechora Province. Production from the NMNG joint venture fields is transported via pipeline to LUKOIL’s Varandey Oil Export Terminal at Varandey Bay on the Barents Sea and then shipped via tankers to a transshipment facility in Kola Bay near Murmansk, from which the oil is transported to tankers for sale to international markets. Late in the second quarter of 2008, LUKOIL completed an expansion of the terminal’s gross oil-throughput capacity to 240 MBD. Yuzhno Khylchuyu (YK), NMNG’s anchor field, achieved first production in June 2008 and reached peak production of 46 net MBD in mid-2009.
Specialty Products
CSPI ConocoPhillips Specialty Products Inc. (CSPI) supplies flow improver products to customers on six continents. LiquidPower™ Flow Improvers maximize the flow potential of pipelines while increasing their operational flexibility, capacity and economic performance. Millions of barrels of crude oil, refined products and select water applications are treated with LiquidPower™ Flow Improvers.
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