Petroneft brings forward Russian production date

PETRONEFT — the Irish oil and gas exploration company with a focus on the Russian market — has brought forward to August the expected date for the commencement of production from its two licences in the region.

The Dublin-headquartered company, which owns two exploration licences in the province of Tomsk in central Russia, had previously indicated sometime towards the end of the third quarter of the year for first production.

It has a production target of 4,000 barrels of oil per day (bopd) in place for this year and has successfully drilled six of nine planned production wells at its Lineynoye oil field.