Large amounts of oil, gas discovered in Northern Russia

Large amounts of oil and natural gas have been discovered in the Yamal-Nenets region North Russia but experts have not yet been able to estimate the total amount of reserves in the area.

..Despite its harsh weather, where the temperature drops to 50 degrees below zero celsius, oil companies fiercely compete as the region promises to become the world’s biggest oil site in the upcoming years.

The Kholym oil fields, about 260 kilometers away from Nadym, are one of hundreds of oil fields in Siberia holding large reserves of oil. Experts say decades are needed to tap into these oil fields.

Kuwait News Agency