The most comprehensive compilation of data for all regions of Russia.
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The Nenetsky Autonomous District is a severe land located far above the Arctic Circle and washed by cold waves of the three Arctic seas: the White Sea, the Barents Sea and the Kara Sea. The District’s present day can be described as sweeping progress combined with preserving age-old traditions.
The District’s hydrocarbon reserves are unique among the other regions of the
European North of Russia. The continental part alone has 79 known deposits,
and new Nature’s treasuries are still being discovered by companies operating in the Timano-Pechora Oil and Gas Province.
Our District’s contribution to the national energy potential is considerable. The total reserves of oil discovered here are estimated at 1.38 billion tons; gas
reserves are estimated at 520 billion cubic meters (while probable reserves can stand at as much as 1.1 trillion cubic meters).
The District is rich in solid minerals, too. Geological exploration found reserves of copper, nickel, cobalt, manganese, barite, muscovite, ferrous and nonferrous metals, explored deposits of fluorites and agates. There are prospects for diamond and gold production. Of non-metallic minerals, the District has brick clay, sand, sand/gravel and gravel/pebble mixes, limestone, etc.
The Nenetsky Autonomous District has a diversified economy, with oil
extraction, manufacturing, meat and dairy cattle farming and reindeer-raising as key activities. Deer-raising is the local natives’ way of life and, at the same time, it is a feature of the District, a leading agricultural activity that provides for its social and economic security. The District’s reindeer stock ranks second in Russia.
Owing to positive economic and political processes, the District’s favorable
geographical location, its abundant mineral resources, labor potential and other positive factors that influence the investment climate, the latter has become much ‘warmer’ in the recent years, bringing the District into the ranks of top investment attractors. For example, in 2006 alone over $2,000 million was invested in the local economy, including foreign investments exceeding $500 million. The District hosts joint ventures established with the participation of investors from the USA, France, and Norway. To date, the District’s development has been directly dependent on the oil industry. The oil sector provides revenues for the regional and local budgets, jobs for the local population. This is why we welcome first and foremost projects by companies willing to invest in the exploration and development of our natural resources and in the improvement of the economy and public welfare.
The District does not receive financial transfers from the federal budget. The
revenues of the local budget are formed only from its own funds.
The sheer scale and importance of our natural resources represent a magnet
to investors and arouse justified interest in our region. With this in mind,
appropriate legislative and economic levers have been devised and are being
enhanced.
We are ready to consider any initiative from investors willing to invest in the north of the Timano-Pechora Province, with a specific focus on creating oil
and gas transport infrastructure, industrial and residential construction, transport development, etc.
We try our best to look years ahead. When the authorities see a clear perspective and are building a reasonable policy, all that remains is to do the job, strengthening the positive investment-related and socio-economic trends.
We are open for fruitful and mutually valuable cooperation with all investors, foreign ones as well as Russian ones. You will find support and appreciation with us. I am sure that businesspeople who decide to build business relations with our District will never regret it.
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