Molchanovskoye is the southernmost of the four production licences held by PPC. It lies about 8km from the Ignatovskoye field. The licence contains two distinct structures, the southern main area which contains gas condensate and the northern area which consists of a black oil reservoir with a gas cap. The main producing formation in both areas has been the Devonian standstone.  There are also newly appraised overlying Tournasian carbonate and sandstone gas condensate reservoirs but extend over the Ignatavskoye boundary.