Under the name of Malka Oil AB, the company acquired its first license in 2005. License block 87 was a 25-year exploration and production license located about 400 km outside of Tomsk in Siberia. In 2007, the company’s shares were listed on the Nasdaq First North Stockholm. In 2010, the production subsidiary in Tomsk was sold and the company name was changed to Petrogrand AB. In 2010 and 2011, two new exploration licenses were acquired in the Tomsk region. In spring 2015, oil producing assets were acquired in Komi in Russia. They were sold to Petrosibir AB (publ) in December 2015.