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Shareholders of Ireland's PetroNeft Resources, which used to produce oil in the Tomsk region, have decided to liquidate the company, according to a company statement.

Under Irish law, voluntary liquidation is possible if a majority of the company's directors make a declaration of solvency, affirming that the company is able to pay all its debts within 12 months of commencement of the liquidation.

David Van Dessel has been appointed liquidator of PetroNeft. He will be in charge of distributing the company's assets to its members in cash or otherwise.

As reported by Interfax, the major shareholders of PetroNeft as of 30 September 2023 were Natlata Partners Limited (controlled by Maxim Korobov) 25.7%, Lloyd Wiggins 14.46%, Daria Shaftelskaya 9.2%, J&E Davy 6.6%, and Seguro Nominees Limited 5.4%.

In October 2023, PetroNeft shareholders decided to sell the company's Russian assets to its CEO, Pavel Tetyakov. Among other things, the company owned the oil production company Lineynoye LLC, 100% of which is now owned by Tetyakov. According to PetroNeft's 2023 annual report, the Lineynoye purchase price ($1.59 million) was transferred to PetroNeft's account in Dublin in June 2024. PetroNeft also owned the oilfield services company Granit Construction, which was also transferred to Tetyakov. After the sale of its Russian assets, PetroNeft will become a shell company with assets in the form of cash, the company statement said. 

According to Interfax, Lineynoye operates the Ledovoye licence block (Tomsk region), which includes the Ledovoye and Cheremshanskoye fields, the latter producing 250 barrels per day of oil. However, there is a risk of production coming to an end because the field is being produced by depletion drive.