Commercial production has begun in the first major Russian oil field developed by a Russian-U.S. joint venture (JV). Polar Lights, a 50-50 venture of Conoco Inc. and Russia's Arkhangelskgeologia (AG) geological enterprise, has started producing oil from Ardalin field. Ardalin lies on a block of about 378,000 sq miles in the Timan Pechora basin. Site is in Nenets autonomous okrug, north of the Arctic Circle and about 1,000 miles northeast of Moscow. The license area also is west of the Ural Mountains and about 75 miles south of the Barents Sea. Oil from the first Ardalin wells is being gathered at a 25,000 b/d oil p...

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