It is well known that the Russian North is rich in hydrocarbon resources, and oil production there requires long transporting pipelines. We studied geological and other natural risks associated with the project of construction of oil pipeline from South Bagan field, Komi Republic. To evaluate the risks we put into geographic information system (GIS) topographic maps as well as drilling data, remote sensing and own field survey materials. It is the system-morphological approach by A. Lastochkin that was used as a methodological platform of this research. The approach lets it possible to divide the continuous Earth’s surface into primary relief elements, which serve as units for natural risks evaluation. Then the multifactor analysis took place. It comprised morphometric factors (altitude, relative height, steepness, vertical and horizontal curvature, insolation exposure), lithology (characteristics of sands and loams that dominate the territory of survey), dynamics (river and temporary erosion, swamping, solifluction), and vegetation analysis. Finally, the risks maps were compiled in order to choose the best track for the oil pipeline. The research also made it possible to outline crucial natural factors of potential accidents in the conditions of northern plains. Well-drained and forested watershed areas are the least hazardous for pipelines. On the contrary, boggy tundra and its gullies with plastic and fluid soils are the worst sections.