Company purchased (2000) majority interest in “Goloil Ltd” (Khanty-Mansiyskiy autonomous region) and re-structured and turned around the business in a relatively short period of time. From production of a approx 80 tones daily transported by road oil tankers to more than 1000 tones per pay transported by the purpose built pipe line connecting into the main pipeline of JSC Transneft. Company’s management of the project saw exponential growth in the value of the business to the benefit of all stake holders. The 35% shareholder, Teton Petroleum had seen drastic increases in their share price- they are quoted on the NYMEX. 

 

Goloil’s success was noted by local authorities who awarded the company “The Black Gold of Yugra” Award after being nominated as “The most dynamic developing oil-producing enterprise with an annual oil production of up to 1 million tones”.  The success of this enterprise was attributable to effective management methods, highly professional staff of the company, construction of high- tech infrastructure for the production and treatment of oil.