Russia: PetroNeft provides Licence 67 financing and operational update
14 Dec 2020
AIM-listed
PetroNeft, an oil and gas exploration and production company, operating in the Tomsk Oblast, Russian Federation, and 50% owner and operator of
Licences 61 and
Highlights
Strategic step forward on Licence 67 towards year-round production and development of Cheremshanskoye field.
Offtake contract signed with Alexandrovskoye Oil Refinery ( AOR ) that includes circa $1M of advance payment against future oil shipment from the C4 well on the Cheremshanskoye field to cover infrastructure development on Licence 67.
Contract awarded to Kedr LLC (local construction company in Tomsk) to cover the construction of a 6.5 km all weather road connecting the C4 well to the nearest all season road thereby enabling year round production from early 2021.