Petroneft in largest oil find to date

IRISH exploration company, Petroneft has announced its largest single oil find to date — which could net 30 million barrels of oil in total — via the discovery of a field at one of its existing licences in Russia.

The Dublin-headquartered oil and gas exploration company said that the significant discovery — around 12.6 metres of net oil pay, which exceeded pre-drilling estimates — was made at the Sibkrayevskaya No 372 well at one of its two licences (Licence 61) in the Tomsk region.

The Irish company’s chief assets are two licences in that region.