The climate of Nenets region is severe: average temperature in January is from -12 degrees Celsius in south-west to -22 degrees C in north-east, average temperature in July from +6 degrees C in the north to +13 degrees C in the south.
The social and economic development of Nenets autonomous region is defined by mineral and raw materials. In the total industrial output produced in the province the product of oil-producing industry makes over 90%.
The region is located in the northern part of Timano-Pechorskaya oil- and gas-field province which has considerable prospected and predicted oil and gas deposits.
About 80 deposits of hydrocarbon resources were found in Nenets region. 16 deposits are being worked at, 19 of them are prepared for work, 38 are being prospected and 2 are temporary closed down.
Nenets autonomous okrug is one of the most prospective regions in Russia for development of oil-producing because the prospected deposits of oil are only 8% worked out, of gas - less than 1%.
Side by side with gas and oil, fuel and power resources of the region include coal. Deposits of manganese, nickel, copper, molybdenum, gold and diamonds are found, but they are not prospected. On Vaigach Island lead, zinc and copper ores are found.