OREANDA-NEWS. On July 10, 2008 The KrymHeolohiya opened a new oil field Balochne (Autonomous Republic of Crimea, South Ukraine), the NJSC Nadra Ukrainy press service informed.

"During tests of prospecting borehole No.1, a spouting oil inflow of 5,5 cubic meters per second was received from 970-972 meters", the statement reads.

Presently, exploration of the borehole is carried out with its further putting into production testing for studying production possibilities.

Estimation of the oil reserves will be made after boring another two prospecting oil wells.