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. Last Updated: 07/27/2016

Petroneft Finds Oil in Tomsk

Petroneft Resources said it found oil at the Sibkrayevskaya well at License 61 in the Tomsk region.

The well encountered a 12.6-meter layer of oil, exceeding pre-drill estimates, the Dublin-based company said Thursday in a statement.

The oil field is the sixth found at License 61, according to the statement. A Russian law reducing extraction taxes for small oil fields from Jan. 1 will boost profit margins at qualifying fields, Petroneft said, without identifying any deposits.