THE DUBLIN- and London-listed, Siberian-focused oil exploration company Petroneft Resources has won a state auction for a 100 per cent stake in the Ledovy Licence 67 in Russia.
Petroneft is already the owner and operator of Licence 61, also in Tomsk Oblast. The Ledovy Licence 67 is located in the main oil-bearing region of the Tomsk Oblast west of the Ob River, in the prolific western Siberian oil and gas basin.
The 2,447sq km bloc is surrounded by proven and producing oil and gas fields and is located close to road, power and pipeline infrastructure, the company said.
Petroneft yesterday said it has reviewed the existing data on the licence, which includes drilling results and mapping.
Two previously drilled structures there tested for oil, although they have no reserves assigned to them. The firm said it believes the discoveries have the potential to form the basis of a future development project on the licence.
Davy Stockbrokers said the deal marked a first step outside its existing Russian interests. The firm added that a recent Gazpromneft acquisition in the same region valued reserves at $2.75 a barrel.
