Matra Petroleum is an oil and gas exploration and production company operating within the Russian Federation. The company is now building a portfolio of ventures and producing assets through the Volga/Urals regions of Russia.
In 2007 Matra acquired its Russian subsidiary Arkhangelovskoe which owned full rights in the Orenburg Oblast of Russia. Later in the same year, Matra discovered the Sokolovskoe Field. At the same time Delek-International Energy Limited became a significant shareholder in Matra. In early 2008 Matra exited from Hungary in order to focus on its Russian discoveries.
The Volga/Urals region contains abundant oil and gas production. TNK-BP is the largest drilling company in the Orenburg Oblast and has production in excess of 350,000 barrells per day in 2008. A large number of discovered oil fields are still either undeveloped or at least only partially developed. New areas are often being released for exploration.
Orenburg Oblast is within the Russian Federation, close to the southern border with Kazakhstan, and west of the Ural Mountains. The city of Orenburg is 1,300 km from Moscow with a population of over 500,000 people. The city is a prominent regional center particularly in the energy industry.
In April 2011 Matra announced that production has started from both wells in the Sokolovskoe Field.