Oil and gas explorer PetroNeft has agreed a deal with Alexandrovskoye Oil Refinery for up to $1m (€844,000) to finance infrastructure development on one of its licenses in Russia.
The Dublin-listed company is focused on the Tomsk Oblast region of the country, where it owns and operates 50pc of Licences 61 and 67.
The latest finance is to further develop the infrastructure of Licence 67 to enable year-round production from next year.
PetroNeft Resources plc (LON:PTR) is an international oil and gas exploration and production company, focussed on Russia. The company’s s shares are listed on the London AIM and Dublin ESM Markets..