On 16 December 2015 Petrosibir acquired 49% of the Cyprus company Ripiano Holdings Ltd, the Russian subsidiaries of which hold three production licenses in the Russian republic of Komi. Karavados Ltd owns the remaining 51%. Komi is situated in the North-eastern corner of the European part of Russia. The region is one of the largest oil and gas producers in the European part of Russia and one of the ten largest in Russia as a whole.
CNPSEI LLC holds the Sosnovskoye and Yuzhno-Tebukskoye licenses. Yuzhno-Tebukskoye (5 sq.km.) is located 70 kilometers to the east from Ukhta. The field was discovered in 1978 and put into production in 1992. The access to the oil field is year round. The oil produced at Yuzhno-Tebukskoye is transported by
trucks to the own comercial calculation point in Nizhne Odes, and after that – into Lukoil’s and Transneft’s pipelines. The energy is supplied both from the local powerline network and from own gas generators that associated gas.