Russian oil company Gazprom Neft said it finished drilling a new production well at one of its flagship fields above the Arctic Circle. The company said it finished the well in part of the Novoportovskoye field. The new prospect is currently at a rate considered commercial and “is expected to deliver approximately 25 percent of all oil produced at the Novoportovskoye field over the next three years, and more than 10 percent of all oil produced at Novy Port over the course of its productive life,” the company said in a statement . The field is located above the Arctic Circle and far away from any pipeline infrastructure. Pilot projects were completed in 2014 and shipments facilitated by an […]