Polar Lights Company (PLC), a joint venture of ConocoPhillips (50 percent) and Russian partner Rosneft (50 percent), was one of the first Russian-American joint ventures to develop a new oil field in Russia. PLC was established in 1992. Production began in 1994 in the Ardalin field, located in the northern part of the Timan-Pechora Basin in the Nenets Autonomous Okrug, about1,600 kilometers northeast of Moscow. Subsequently, three satellite fields have been developed starting in July 2002. PLC's daily gross production capacity is presently about16 mBOPD (2250 tons/day) Over the life of the field PLC has produced over 20 million tons. Taxes paid to date in Russia by PLC are in excess of $1 Billion. PLC headquarters office is in Arkhangelsk with representative offices in Usinsk, Naryan Mar and Moscow. The PLC staff is over 98 percent Russian nationals.
 

 

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