Sibneft Well Oil Outwells!!!

The Russian oil company Sibneft has pulled out first oil from the new well on the Verkhne-Telekaisky oil and gas condensate field in Chukotka, Russia's north east.
The proved recoverable reserves of oil in the field constitute 2.2 million tons of conventional fuel. Work on Verkhne-Telekaiski has been done since July 2003.
Sibneft has three licensed sections on the Chukotsky peninsula and three on the adjacent Bering sea shelf.
In the Verkhne-Telekaisky and nearby Verkhne-Echinsky fields, Sibneft is going to carry out 3D seismic prospecting. It will specify their structure and map out the further development strategy.