Irish PetroNeft plans to extract 14.6 million tons of oil in Tomsk Region by 2026


PetroNeft Resources Plc. has plans to extract 14.6 million tons of oil in six oilfields in Tomsk Region over the period of 2011–2025.
According to the information posted on the company’s website its 2P oil reserves are currently estimated at 96.9 million barrels (15.4 million tons).

PetroNeft forecasts that peak production will be in 2015 — about 32 million barrels (5 million tons), and in 2025 the output will fall below 7 million barrels (1.1 million tons).

According to the published information, «after 2025 the remaining oil reserves will be 5.2 million barrels (827,000 tons).»
Also it is said that proven reserves (1P) in PetroNeft oil fields are 13.3 million barrels (2.1 million tons), and probable reserves (3P) are 137.4 million barrels (21.8 million tons).

Through its Russian subsidiary Stimul-T, PetroNeft holds a license for exploration and development of Tungolsky Area which contains Lineynoye, West Lineynoye, Tungolskoye, Kondrashevskoye, and Arbuzovskoye fields.

Also, Petroneft is developing Ledovy area with oil trader Vitol’s subsidiary, Arawak Energy, on a parity basis.
As of May 4, 2011, key shareholders are JP Morgan Chase & Co (9.06%), BlueGold Capital Management LLP (7.12%), Macquarie Bank Limited (6.16%), Ali Sobraliev, son of Tomskburneftegaz General Director Vakha Sobraliev (5.53%), and PetroNeft CEO Dennis Francis (5.42%).

Source: Interfax-Siberia
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