Imperial Announce Russian Oil Find

UK-based oil and gas company Imperial Energy has discovered oil in its exploration well in West Siberian, Russia, the company has announced.

Reserves at the well at the Tamratskoye 3 field in the Tomsk region are estimated at 3.4 million barrels.

The company has come under fire in recent months from Russia's environmental watchdog, Rosprirodnadzor, which accused it of exaggerating reserve amounts and has threatened to withdraw its licenses, according to Reuters.

By staff writer