MOSCOU. Action de 50 Rbls. brown, black. No 89. Central fold. Text in Russian and French. In 1844, 15 years before Col. Drake in Pennsylvania, the Russian engineer Semyonov drilled a well near Baku. The field is still being exploited, as Bibi-Eibat, and is the oldest oil-well in the world still being worked. Towards the end of the 19th century, drilling started off-shore also (about the same time as the first offshore drilling off the California coast), and was also extremely productive. This company was founded in 1904 to work in the Bibi-Eibat oilfield.
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