Petroneft to begin production at Siberian well

Irish-based explorer Petroneft will begin year-round production from their Siberian Lineynoye oil fields in late August following a round of successful tests.

Petroneft said production was only weeks away from commencing. In addition to the update on production the Company also published results from two well tests, both of which encountered higher than expected oil levels.

Looking to the future, the company indicated that it would begin a new three-well exploration campaign in the northern part of their license 61 area later in the year.

The aim of the programme is to increase company reserves and boost the long term production potential of the license area.

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