Risk Insurance

Severnaya Oil Storage Company arrange and maintain voluntary and mandatory and voluntary types of insurance including property and third party liability insurances. There are strict requirements to the insurers that participate in the corporate insurance program. The minimum acceptable credit rating for insurance companies is A- (Standard and Poor’s, or an equivalent rating from an internationally recognized rating agency). Russian and International contactors are also required to have appropriate insurance in place from the insurance companies with the credit rating A- or higher from S&P or an equivalent rating from an internationally recognized rating agency. Environmental risks, including but not limited to seepage, pollution, are covered in the major corporate insurance policies with the separate increased limits.

Environmental Protection

​The environmental activity of the Company is based on the principle of prevention. To avoid any risk of negative impact on the nature, it is necessary to exercise industrial environmental control and conduct local monitoring of the facility’s area. Severnaya runs a number of environmental monitoring programmes at production facilities locations ​

Industrial Environmental Monitoring

Industrial environmental monitoring allows the Severnaya to reduce the industrial impact on the environment and use natural resources more rationally.

  1. Areas:
  2. Air Emissions Control;
  3. Water Use and Water Discharge Management; and
  4. Waste Management Verification

Monitoring of river ecosystems-one of the componentsof environmental control. The information about the performance of Severnaya in all programmes of environmental monitoring is contained in the annual reports on sustainable development.

  1. The Environmental Monitoring Programme includes the study of the Severnaya actual or potential impact on the environment. This enables to receive objective feedback, identify risks, take corrective measures, and assess their effectiveness.
  2. Programmes of environmental monitoring:
  3. Water Use and Water Discharge Management; and
  4. Vegetation Monitoring;
  5. Soils Monitoring;
  6. Protected Bird Species Monitoring;
  7. River Biosystems Monitoring
  8. Monitoring of the Sea Environment and Biota; and
  9. Ballast Water Control.