Far North (Russia) Far North (Russia) The Extreme North or Far North () is a large part of Russia located mainly north of the Arctic Circle and boasting enormous mineral and natural resources. Its total area is about , comprising about one-third of Russia's total area. Formally, the regions of the Extreme North comprise the whole of Yakutia, Magadan Oblast, Kamchatka Krai and Murmansk Oblast, as well as certain parts and cities of Arkhangelsk Oblast, Komi Republic, Tyumen Oblast, Krasnoyarsk Krai, Irkutsk Oblast, Sakhalin Oblast, Khabarovsk Krai, as well as all islands of the Arctic Ocean, its seas, the Bering Sea, and the
Natural resources of the Arctic BTOE of energy, 31% from oil and 21% from natural gas). Russia’s vast energy resources account for 52% of the Arctic totals and Norway’s for 12%. Norway, which has been extracting petroleum in the North Sea since the 1970s, in the 2010s expected new discoveries in the Barents Sea. As of 2013 Russia was exporting 88% of crude oil via pipelines, with a large majority of the natural gas also transported in that manner. 76% percent of natural gas and 79% of oil were exported to Europe, with the second largest customer for oil being China and for natural gas