Third Oil Shipment from the Prirazlomnoye Field Delivered to Europe

17 November 2014

The Mikhail Ulyanov tanker has delivered the third shipment of Arctic oil (ARCO) produced at the Prirazlomnoye field to consumers in northwestern Europe. Crude shipments from the field totalled approximately 200,000 tonnes in 2014. A fourth tanker is expected to be loaded with the new oil before the year-end.

Prirazlomnoye is the world’s first project involving oil extraction on the Arctic shelf using a stationary platform. Extraction as part of pilot production started in December 2013. The new type of oil, ARCO, was first delivered to the global market in April 2014.

A new oil drilling platform designed in Russia specifically for the Arctic’s climate and weather patterns was constructed specifically for the Prirazlomnoye field in Russia. The platform is designed for operation in extreme Arctic weather conditions, meets the strictest safety requirements and is capable of withstanding maximum ice loads.

One production well is currently operational at the field, with work on an absorption well expected to be completed by the end of 2014, and several more development wells drilled in 2015.