The Federal State Unitary Enterprise “Arktikmorneftegazrazvedka” carry out exploration for oil and gas offshore Barents and Kara Seas, covering Eastern-Barents oil-and-gas bearing province and, partially, Western-Barents, Timan-Pechora and Western-Siberian oil-and-gas bearing ones.

Geological-Geophysical Service carry out analytical research of core, oil, gas and water; make geochemical research of the rocks and formation fluids, combined processing of pioneer and exploration well drilling results, evaluation of field reserves and promising areas resources,  water and atmosphere monitoring, provide for geological and engineering control and complex of the sea well and production well research.

Thanks to the work of high-qualified experts, having great experience in the sphere of oil and gas exploration, 15 fields have been discovered in severe Arctic conditions: 3 gas fields – in nonfreezing south-west (Murmanskoye, Severo-Kildinskoye) and central (Ludlovskoye) parts of the Barents Sea; 5 gas condensate fields – in the central part of the Barents Sea (Schtokman, Ledovoye), in the Pechora Sea (Pomorskoye) and in the southern part of the Kara Sea (Rusanovskoye, Leningradskoye), oil and gas condensate Severo-Gulyaevskoye field, and 3 oil fileds – Prirazlomnoye, Varandey-more and Medyn-more in the Pechora Sea.

Totally, incremental value of the recoverable reserves within the years of geological exploration has amounted to in terms of gas more than 3000 bln. m3, in terms of oil - 180 mln. t, in terms of the condensate - 32 mln. t. The results of exploration show that in Western Arctic shelf area, a new Russian large raw materials base has been discovered, being  commensurable, according to the general hydrocarbon potential, with neighboring oil-and-gas bearing land provinces. Geological and economic efficiency of exploration work is rather high and does not yield to the best world values.