TIMAN-PECHORA

Naryanmarneftegaz
Operator: OOO Naryanmarneftegaz (NMNG)
Co-venturers: LUKOIL (70.0%), ConocoPhillips (30.0%)
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. In 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 2008. The joint venture currently holds seven licenses and is producing from five fields.

Polar Lights
Operator: Polar Lights Co. (PLC)
Co-venturers: ConocoPhillips (50.0%), Rosneft (50.0%)
Polar Lights Co. is a Russian limited-liability company established in 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.