StockMarketWire.com - Oil and gas company PetroNeft said construction had commenced on a mini oil processing facility at a key licence in Russia.

Construction of the facility, on licence 61 in the Tomsk Oblast region, was expected to be completed this year.

The company operated and owns 50% of licence 61 and licence 67.

For the latter, operations had commenced with construction of a winter road and link up with two wells. A contract had also been awarded for a workover rig for the C-4, which would start in January.



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