"ConocoPhillips confirms it has sold its 50% interest in Polar Lights Company to Trisonnery Asset Limited." a ConocoPhillips spokeswoman confirmed in an email.

The Financial Times first reported the news and quoted a source familiar with the matter as saying the buyer was owned by Russia's Khotin family.

The Khotins have previously made money from property development in Moscow but have started to invest in oil assets in recent years, according to the FT.

Rosneft