Kolguyev Island is an island in Nenets Autonomous Okrug Russia located in the south-eastern Barents Sea to the north-east of the Kanin Peninsula. Pictured: Peschanoozerskoye oil and gas condensate field is one of the most northern in the world, acting oil fields. In recent years, up to 100000 tons of oil have been produced annually at the Peschanoozerskoye oil and gas condensate field on Kolguyev Island.