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Tuesday, July 29, 2008

PetroNeft puts $10M in pipeline

Jul 29, 2008 - Scan Oil&Gas Magazine - Dublin-based Russia producer PetroNeft Resources has hired local Russian contractor CJSC Karos to supply $10 million in pipe for a planned 60-kilometre export pipeline from the Lineynoy oilfield in Tomsk region, Russia. The export line will end at the Bashneft Lukpaiskaya transfer point northwest of the of the company’s operated License 61. “The pipe will be sourced from Russian pipe mills in the Urals and Volgograd Regions and will be delivered to staging areas by the end of October 2008,” chief exec Dennis Francis said in a statement. Construction of the pipeline will start in winter and is scheduled for completion in April 2009, followed by first production of oil from the Lineynoye oil field in the second half of 2009. “This is another critical milestone on the path to bringing our fields to year-round production,” Francis said, adding, “Our Russian staff did an excellent job in the redirection of the necessary pipeline survey and design work.”

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