London-listed Imperial Energy PLC (IEC.LN) Tuesday said the first oil from its Snezhnoye field, Block 77, in Tomsk, Western Siberia, is now flowing direct into the national oil transportation system.
London-listed Imperial Energy PLC (IEC.LN) Tuesday said the first oil from its Snezhnoye field, Block 77, in Tomsk, Western Siberia, is now flowing direct into the national oil transportation system.
The oil is flowing to OAO Transneft's (TRNFP.RS) pipe through Imperial's own tie-in and custody transfer station at Zavyalovo, following receipt of all written agreements and authorizations by Transneft.
The first oil flowing into the Transneft system at Zavyalovo is around 35,000 barrels, stored in tanks pending the opening of the tie-in.
Imperial said the direct connection unlocks the potential of Imperial's Blocks 74 and 77, north west of the Ob River and renders the company's wholly-owned 49 kilometer pipeline fully operational, saving road transportation costs previously being incurred.
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