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Book Chapter

Conoco’s Polar Lights Joint Venture in the Russian Federation: A Successful International Startup Experience

By
Alfred J. Boulos
Alfred J. Boulos
Boulos International Houston, Texas, U.S.A.
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Published:
January 01, 2000

Abstract

Polar Lights Company is a joint venture in the Ardalin field in Russia between Conoco and Russian partners Arkhangelskgeoldobycha and Ros-neft. The Ardalin field has produced 50 million barrels of oil since production began in 1994.

The Ardalin field, in northern Russia’s Timan Pechora Basin, is the largest of several oil fields in the Polar Lights joint venture area. It is located in the Arctic tundra, approximately 1000 miles (1609 km) northeast of Moscow. The field’s current production is about 36,000 barrels per day from 11 wells.

Polar Lights was established in 1992, and was the first Russian-American joint venture company to develop a new oil field in Russia. Conoco holds a 50% interest in Polar Lights; Arkhangelskgeoldobycha holds a 30% interest; and Rosneft holds a 20% interest.

Polar Lights has been recognized for meeting strict standards in technology, as well as safety and environmental protection. It has received a significant award—the Lomonosov Award in Russia in 1994—as having the best application of advanced environmental technology in the sensitive polar conditions of the Arkhangelesk Oblast.

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Contents

International Oil and Gas Ventures: A Business Perspective

George E. Kronman
George E. Kronman
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Don B. Felio
Don B. Felio
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Thomas E. O’Connor
Thomas E. O’Connor
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Mindy S. Kronman
Mindy S. Kronman
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American Association of Petroleum Geologists
ISBN electronic:
9781629810683
Publication date:
January 01, 2000

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