Oil and gas exploration company PetroNeft Resources has discovered a new oilfield in licence 61 at North Varyakhskaya, Russia.

The no.1 well, which was spudded on 17 August 2011, encountered 2.2m of net oil pay in the J1-1 reservoir interval in a gross sand package of over 5m.

The company also found an additional 2.5m of potential oil pay in the J1-2 reservoir interval, which will need detailed logging and testing for confirmation.

A preliminary open hole test of the J1-1 interval produced an inflow of 36 barrels of fluid per day, consisting of oil of good quality and mud filtrate, which needs fracture stimulation.

Casing is underway at the well, which is located along the Lineynoye to Arbuzovskoye pipeline and will be built in the first quarter of 2012.