Oil and gas company Petroneft Resources PLC (P8ET.DB) Tuesday said it raised estimates of its reserves in Russia.
The Dublin-listed company said it increased estimates of its proved and probable reserves at license 61 at tomsk Oblast by 16% to 70 million barrels of oil. It could contain as much as 530 million barrels, Petroneft said.
The increase follows the discovery of a new field at Kondrashevskoye.