New large oil field discovered in Russia

Gazprom Neft has discovered a new large field in Russia’s Orenburg Region: its geological reserves amount to 53m tonnes of oil equivalent, RIA Novosti reports

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The company informed that oil in the open field is of an unusual bright orange colour, and it is classified as a light grade; the liquid contains no impurities.

“The discovery of such a scale is a serious success for the Volga-Ural oil and gas province, which is considered a well-studied region,” Vadim Yakovlev, the Deputy Chairman of the Gazprom Neft Management Board, said.