The JSC “Severnaya Neft” was founded in 1994 in the town of Usinsk for exploration and development of the oil reserves in the north-eastern part of the Timano-Pechorsky oilandgasbearing province. It holds the licenses for exploitation of 12 fields with a total volume of recoverable reserves of over 60 million tons.
Today SEVERNAYA NEFT ranks with the fastest developing enterprises of the Republic of Komi and Russia as a whole. Of the one million tons of the increase in oil production registered in Russia in 1999, SEVERNAYA NEFT accounts for 111 thousand tons. Over the past five years the company has boosted output ninefold — to 745 thousand tons, placing fifth in Komi for this indicator and is now one of the five leading oil producing enterprises with foreign capital in the country. The company is due to produce 850 thousand tons of oil in 2000 and 1.5 million tons in 2002.
In the view of General Director Alexander Samousev, it is the mediumrange enterprises that will guarantee the future of the domestic oil industry. Today SEVERNAYA NEFT leads the way in the specific volume of financing of capital investments: 45 dollars per ton while the respective figure in the rest of the country is 10 dollars, on average. Only in the first half of the year 2000 the investment volume came to 500 million roubles.
SEVERNAYA NEFT continually creates new jobs (today the company employs 867 workers and specialists, twice the number employed in the past year). Much attention is devoted to the social questions and charity work: 1.5 million roubles were earmarked for those purposes in 1999 whereas in 2000 the figure will be on the order of five million.
The successful attainment of the production objectives is guaranteed by the wellcoordinated operation of all the company’s divisions. The business reputation and the high productive capacity of the CJSC “Severnaya Neft” furnish a reliable foundation for implementation of new projects involving development of oil fields in the region.
CLOSE JOINTSTOCK COMPANY “SEVERNAYA NEFT”.
1 Pripolyarnaya St., Usinsk 169706, Republic of Komi, Russia.
Tel./Fax:(82144) 28597.
E-mail: reception@nordoil.ru
Internet: www.nordoil.ru
