Dublin-listed exploration company Petroneft Resources has decided to slow the development of an oil field project in Russia, citing unstable financial and crude oil markets.
The decision to delay the phase one development project for Licence 61 in Tomsk Oblast was made to ensure the company's medium and long-term financial stability, Petroneft said.
The project includes Lineynoye and West Lineynoye fields, whose reserves have been upgraded.
