On January 9, 1998, Severneftegazprom LLC was established to develop oil and gas condensate fields in Yamalo-Nenets Autonomous District of the Tyumen Region. On June 15, 2001, LLC Severneftegazprom was transformed into an open joint-stock company with registered office in Krasnoselkup, Krasnoselkupsky District, Yamalo-Nenets Autonomous District.
Today the company is one of the primary producing enterprises within the Gazprom Group. The company's shareholders are Wintershall Dea AG (Germany) and OMV Exploration and Production GmbH (Austria).
Severneftegazprom produces, collects, treats, and markets natural gas. It conducts prospecting and geological exploration, and carries out and manages construction.
The company’s central project is development and infrastructure building for the Yuzhno-Russkoye oil-gas-condensate field, one of the largest in Russia. The field’s gas is the key resource for the Nord Stream gas pipeline. Facilities for gas production at Yuzhno-Russkoye were built in only two years, and are among the most modern and technically sophisticated in Russia.
OJSC Severneftegazprom is an example of effective international collaboration, combining Western technologies with Russian experience of working in difficult climatic conditions.