"Oil Company "Northern Radiance" Ltd today

“Oil Company “Northern Radiance” Ltd  – is a consistently developing company which has taken its own niche in the oil market.

Presently “Oil Company “Northern Radiance” Ltd owns licenses for oil probing and extraction on 4 oil fields of Timano-Pechorskaya Petroleum province – Lidushor-Shorsandiveiskoye, Shorsandiveiskoye, Lidushorskoe and Mousershorskoye fields.

The assets of “Oil Company “Northern Radiance” Ltd include 26 drilled wells and also its own system of oil treatment and transportation, which consists of a 170 km long pipe line with its own oil custody transfer station linked with Transneft, JSC which allows to transport produced oil and provide services of oil pumping to outside agencies. Mousershorskoye field possesses the infrastructure needed for oil mining, treatment, pumping and also their own electricity generation, oil treatment, tankage and calibration equipment.

During the 15-years work in this area “Oil Company “Northern Radiance” Ltd has gained a reputation of a reliable and responsible business partner. Presently the company is working steadily in the domestic market as well as in the international ones.

“Oil Company “Northern Radiance” Ltd is the largest tax-payer in Arkhangelskiy region and also it provides working places and employment inside the regions of its activity. The staff of the company is about 200 people.

Nowadays “Oil Company “Northern Radiance” Ltd has worked out a Developing strategy of the company up to 2022, its chief goals being to build its stock and increase the production.

Up to this day the company has mined over 2,6 mln tons of oil. As part of the production program up to 2022 the company plans to carry out a project of exploration and production drilling of more than 73 wells and start the trial production of 5 perspective oil structures which would allow to increase the mining of hydrocarbons up to 1 mln tons per year.