Article: Sibneft receives first oil in Chukotka.

Sibneft receives first oil in Chukotka

MOSCOW. April 15 (Interfax) - Russian oil company Sibneft today announced that is has found significant quantities of oil during exploratory drilling at the Verkhne-Telekaiskoye oil and gas condensate field, located 130 km southwest of the city of Anadyr in Russia's Chukotka autonomous region.

The company said in a press release that estimated proven recoverable reserves at the field total 2.2 million tonnes (16.4 million barrels) of oil equivalent. Work on the Verkhne-Telekaiskoye field began in July 2003.

Sibneft holds licenses for three onshore sites in Chukotka, as well as for three offshore fields in ...

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