The Agency of Subsoil Usage of the Komi Republic issued the concession license for development and exploration of subsurface resources for the purpose of crude hydrocarbons production at the territory of Yuzhno-Zverinetsky site located in Timano-Pechorskaya Province of the Komi Republic.

The license is valid through December 21 of 2029 year.

The oil field was discovered by the license owner from its own funds during geological survey of the Yuzhno-Zverinetsky site.

Geological and recoverable crude hydrocarbons recourses at the oil field underwent examination by state experts. They were approved and registered by the State Balance of minerals deposits.

In the nearest future LLC “Komioil” plans to start oil production.