The group's principal activities are oil and gas exploration and production. The group concentrates on operating existing wells, drilling new wells and constructing a pipeline to carry oil. The group's current focus is on the Russian Federation. The business of the group is conducted through its subsidiary, Goltech Petroleum LLC, which in turn operates solely through ownership of a majority interest in Goloil, a Russian joint stock company. Goloil performs all of the group's oil and gas exploration, development, production and marketing activities. The oil produced by the group is sold in Poland, Germany, Belorussia and Russia.
