British company Imperial Energy said on Monday it had increased output at its oil deposits in Western Siberia by 17.6% to 10,000 barrels per day.
Imperial Energy, a British company focused on oil exploration and production in former Soviet republics, holds licenses to explore and develop oil deposits in Russia's Tomsk Region. “Imperial has achieved its year end production target of 10,000 bbl/d - currently producing at a rate of 10,000 bbl/d, which continues to increase,” the company said in a statement.
According to Imperial Energy's reserve audit data as of December 31, 2006, the company's “proven plus probable” reserves amount to 802.6 million barrels. Imperial Energy earlier said it plans to produce 10,000 barrels per day by late 2007, 25,000 bbl/d by late 2008, and 35,000 bbl/d by late 2009. Imperial Energy said it had invested $600 million in the development of its oil deposits in Russia. (Ria Novosty)