HOUSTON, Feb. 7�Polar Lights Co., a joint venture of Conoco Inc. and Russian partners Arkhangelskgeoldobycha and Rosneft, announced Wednesday that Ardalin field has passed the 75 million bbl (10 million tons) production milestone.
The field, in the Nenets Autonomous Okrug of the Timan Pechora basin, began production in August 1994. It is in a harsh arctic tundra environment about 1,000 miles northeast of Moscow.
John Capps, president of Conoco International Petroleum Co., said, "When production began, the field produced around 20,000 b/d. With very little capital investment and lots of ingenuity, the Polar Lights workforce was able to nearly double production to today's 36,000 b/d.''
He said Polar Lights Co.'s production facility at Ardalin has become a flagship in Russia for its use of modern technology and high safety and environmental practices.
Oil from Ardalin field is moved through a 42-mile line to the Russian Pipeline System. When Polar Lights was established in 1992, it was the first Russian-American joint venture company to develop an oil field in Russia.
Since it was founded, Polar Lights has paid $241 million to Russian federal and local governments. Tax payments from Polar Lights provide more than half of the okrug's budget, which was deficit-free in the year 2000 for the first time. In addition, Polar Lights is the second largest taxpayer in the city of Arkangelsk.
Polar Lights employs 220 people, 95% of whom are Russians. S. Randy Whitt, Polar Lights general director, said, "The dedication of the skilled employees of Polar Lights Co., who have blended Russian and Western technology and business practices, is the key factor contributing to the company's success.''
Conoco has a 50% interest in Polar Lights, Arkhangelskgeoldobycha 30%, and Rosneft 20%.