On 18 April 2014, Gazprom loaded the first cargo of oil produced from the Prirazlomnoye field, the only Russian project for hydrocarbons development in the Arctic shelf, located in the Pechora Sea, 60 km off the shore. The first oil cargo totalled 70 kt of oil and will serve a Northwestern Europe refining company. It is planned to ship over 300 kt of oil from the field in 2014, while recoverable oil reserves are estimated at 72 Mt. Gazprom started oil production in the field from the Prirazlomnaya offshore ice-resistant stationary platform on 20 December 2013.
It is the first time that ARCO (Arctic Oil), the new type of Arctic oil produced from the Russian shelf, entered the global market. Once the production volume of the Prirazlomnoye field is increased, a part of feedstock will be sold under long-term contracts. The projected oil production of 6 Mt/y is to be reached after 2020.