News

February 04, 2010

PetroNeft Resources Says It Is On Course For Output Of 4,000 Bopd By Year End 2010 From Its Development Projects In Russia

When PetroNeft Resources presented at our most recent conference last November, it was just emerging from a rough patch. The AIM company is focused on the resource rich West Siberian Basin, one of the most prolific oil and gas basins in the world.

PetroNeft is the owner and operator of Licence 61, Tomsk Oblast in the Russian Federation.  The licence holds 70 million barrels of 2P reserves on four oilfields (two existing Soviet-era discoveries Lineynoye and Tungolskoye and two PetroNeft finds, West Lineynoye and Kondrashevskoye). The company has established some production, around 600 barrels per day (bopd), but believes there is lot more output to be achieved. It is keen to develop the fields. First, however, it was felt a 60...