The Koltogor Licences cover a combined area of 695km2 in the Khantiy-Mansisk Autonomous Okrug, an autonomous region in Western Siberia. The licences are approximately 130km east of the city of Nizhnevartovsk. Khantiy-Mansisk is one of Russia’s most prolific oil producing regions, holding part of the West Siberian Basin (the largest oil and gas producing region in the CIS). The licences are close to infrastructure including a Transneft-owned oil pipeline and a wet gas pipeline, as well as a federal highway and power lines passing through the licence area.
The Koltogor Licences are in close proximity to a large number of producing oil fields including TNK-BP's giant Samotlor field, the largest oil field in Russia and the sixth largest in the world.
The Koltogor E&P Licence encompasses the Koltogor oil field with Proved plus Probable reserves of 79.2 mm boe (10.3 mm Toe). Immediately due west is Zoltav’s Koltogor E&P 10, on which Zoltav has also discovered the West Koltogor oil field. Zoltav intends to bring in a partner at the appropriate time to assist with further appraisal and development of this significant resource in the Koltogor Licences.