Petroneft is hoping that gas production from its Lineynoye field will reach 4,000 barrels a day by the end of the first quarter of next year, after bringing 10 new wells on line last month.

The firm completed a hydraulic fracturing programme on the wells last month and said yesterday results were encouraging. Production is 2,500 barrels a day, and assuming the wells reach anticipated rates, Petroneft hopes this will reach 4,000 during the first three months of 2012.

The Irish-headquartered company’s operations are focused on two licences in the Tomsk Oblast region of Siberia in Russia. Russia last month approved Petroneft’s pilot production design for its Arbuzovskoye oil field.