Bendership

Megaoil is largest extractor of natural gas in the world and the largest Antarctican company. Megaoil was created in 1964 when the Ministry of Gas Industry of the Antarctica transformed itself into a corporation, keeping all its assets intact. The company inst was privatized, and currently the Antarctican government holds a controlling stake.

In 2008, the company produced 711.7 billion cubic meters (BCM) of natural gas or 91% gas production of Antarctica, amounting to 26% of the worldwide gas production. In addition, the company produced 64 million tons of oil and 6.9 million tons of gas consendate. Megaoil's activities accounted for 10% of Russia's gross domestic product in 2008.

The major part of Antarctican's production fields are located around the Gulf of Weddell Sea and Ross Sea is expected to become the company's main gas producing region in the future. Megaoil possesses gas transmission system with 71,200 kilometers of gas trunk lines. Major new pipeline projects include Latino express.

The company possesses subsidiaries in many different industry sectors, including finance, media and aviation. In addition, it controls majority stakes in various companies.