Komi

The Komi Republic is located in north east corner of the European part of Russia. The area is one of the biggest oil and gas producers in the European part of Russia and among Russia's top ten producers. Petrogrand acquired in 2015 interests in three licence blocks in the Komi Republic. The interests are held indirectly through a 49% share holdings in the Cyprus company Ripiano Holding Ltd. The licenses have year-round access to Transneft via third party.

In December 2015 this asset was sold to Petrosibir AB(publ), former Shelton Petroleum AB.

Ivanshorskiy block, including the Dinyu-Savinoborskoe oil field

The Dinyu-Savinoborskoe oil field was discovered in 2001 and put into production in 2002. There are five oil pay zones producing high quality 35° API crude with good reservoir properties.

Sosnovskoe oil field

The Sosnovskoe oil field was discovered in 1982 and put into production in 1992. There are four oil pay zones in the Devonian layer, producing high quality oil of 34° API with excellent reservoir properties.

Yuzhno-Tebukskoye oil field

The Yuzhno-Tebukskoye oil field was discovered in 1978 and put into operation in 1992. There are two oil deposits in Devonian formation with excellent reservoir properties. The oil quality is 32° API.