Oil production from Irish and London-listed Petroneft’s Siberian interests is running at 2,800 barrels a day following the successful completion of its latest well.

The company said yesterday that Arbuzovskoye 111, the fourth of 10 production wells that it has planned for its licence 61 area, is producing 150 barrels of crude a day. The company’s total production has now reached 2,800 barrels a day, with three wells offline for work on pumps.

Chief executive Dennis Francis said the company was pleased with the initial flow rates from the well.

Petroneft owns and operates licences 61 and 67 in Tomsk Oblas, Siberia, in the Russian Federation.