The West Siberian Basin is the largest oil and gas producing region in the FSU, both in the geographical area it covers and the recoverable oil and gas that it contains. The basin covers an area of approximately 3.4 million square kilometres which is more than twice the size of the state of Alaska.
Topographically the basin is one of the world’s largest areas of unbroken terrain. The region is characterized by water logged soils, shallow lakes and extensive swamps. Winters are severe and last seven to nine months of the year with mean temperatures ranging from about −15° C to −30° C. These winter conditions support better access to the fields, particularly in newer areas of development that have negligible infrastructure. Winter roads, or barge access in the brief summer if waterways exist, are the easiest and least expensive way to ship goods and people to producing fields.
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.