Teton Petroleum Company is completing two new wells and commencing operations on a third well in Western Siberia. "Our field production has increased 600% over the past twelve months to 6,000 barrels a day and this will keep our production targets on track," said H. Howard Cooper, President of Teton Petroleum.
Teton has also appointed Igor Effimoff as their Chief Operating Officer. Most recently, Mr. Effimoff was President of Pennzoil Caspian Corporation, managing that company's interests in the Caspian Region. This included the Azerbaijan International Oil Consortium (AIOC), formed to develop the 4.5 BBO Azeri-Chirag-Guneshli (ACG) Fields, offshore Azerbaijan, at a projected cost of $10 billion. He started his career in 1972 as a geologist with Shell and since 1981 has worked with several independent oil and gas companies in a senior management capacity.
"Mr. Effimoff brings a lot to the table," said H. Howard Cooper, President of Teton Petroleum. "He is a seasoned senior manager with some 30 years of experience internationally and in the U.S. He will be instrumental in assisting us with development of our current oil reserves and enabling us to identify new opportunities in the region. Teton's Board of Directors and I are very pleased to have Igor as a key member of our team." ©
Europe has recognised the need for negotiations with Russia to discuss the security system on the continent. Russian Foreign Minister Sergei Lavrov is going to Macedonia for meetings with colleagues within the OSCE