Yaregskoye field is the Group’s largest high-viscosity oil field. Discovered in 1932, it is located in the south of the Timan-Pechora Province, Ukhta District of Komi Republic, 20 km off Ukhta and covers two major areas under development: Yaregskaya and Lyaelskaya. Development began in 1939. The mineral development license for Lyaelskaya Area is valid until 2030.
High profitability of oil production at the field is explained by the existing beneficial taxation of high viscosity crudes.
The field is one of Russia’s largest deposits in terms of its known titanium ore reserves, and the only one in Russia where oil is being mined. Yaregskoye was the first field ever to host a project of steam assisted gravity drainage with boreholes reaching 1 km in length.
Yarega’s heavy crudes have exceptional properties. They are used as feedstock for one-of-a-kind chemical products used in road construction, space industry, pharmaceuticals, and the production of ultra-low diesel fuels used to power the Northern and Arctic vessel fleets.