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. 

Activity in 2008 was mainly focused on the Tournasian carbonate/sandstone with the completion of four gas condensate wells.