Dublin-listed oil explorer Petroneft Resources has successfully drilled the first of ten planned new production wells on the Arbuzovskoye oil field at the Tomsk Oblast in Russia.
The company said in a statement that well completion is now underway at Arbuzovskoye well 101 utilising a workover rig and it expects to bring the well into production around the end of this month.
Arbuzovskoye could contain in excess of 13 million barrels of oil according to independent...
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