Exploration company Petroneft Resources says that the survey, design and preparatory work on its new pipeline route from Lineynoye to Kiev-Eganskoye in Russia has been completed.
Construction work will now start on schedule early next month and is expected to be finished by April.
In an operational update, Petroneft said that the drilling rig has been successfully mobilised to the Lineynoye Pad A site and rig-up operations are underway.
The company also said today that it has appointed Karl D Johnston as its vice-president of business development and operations. He previously worked at Marathon Oil for 27 years.
The company's CEO Dennis Francis said that all aspects of the Lineynoye project are on or ahed of schedule.
'I am looking forward to a transformational year for Petroneft by the commencement of year-round production in the third quarter of 2010 and meeting our production target of approximately 4,000 barrels of oil per day by the end of 2010,' he added.
