Imperial Energy Corporation PLC is a wholly owned

subsidiary A subsidiary, subsidiary company, or daughter company is a company (law), company completely or partially owned or controlled by another company, called the parent company or holding company, which has legal and financial control over the subsidia ...

of the

Oil and Natural Gas Corporation The Oil and Natural Gas Corporation Limited (ONGC) is an Indian central public sector undertaking which is the largest government-owned oil and gas explorer and producer in the country. It accounts for around 70 percent of India's domestic pro ...

which is under the

ownership Ownership is the state or fact of legal possession and control over property, which may be any asset, tangible or intangible. Ownership can involve multiple rights, collectively referred to as '' title'', which may be separated and held by dif ...

Ministry of Petroleum and Natural Gas The Ministry of Petroleum and Natural Gas (MOP&NG) is a List of Indian agencies, ministry of the Government of India responsible for the exploration, production, refining, distribution, marketing, import, export, and conservation of petroleum, ...

of the

Government of India The Government of India (ISO 15919, ISO: Bhārata Sarakāra, legally the Union Government or Union of India or the Central Government) is the national authority of the Republic of India, located in South Asia, consisting of States and union t ...

operating in

Siberia Siberia ( ; , ) is an extensive geographical region comprising all of North Asia, from the Ural Mountains in the west to the Pacific Ocean in the east. It has formed a part of the sovereign territory of Russia and its predecessor states ...

. It is British-based and headquartered in

Leeds Leeds is a city in West Yorkshire, England. It is the largest settlement in Yorkshire and the administrative centre of the City of Leeds Metropolitan Borough, which is the second most populous district in the United Kingdom. It is built aro ...

History

The business was founded in 2004. In 2007 it was first listed on the

London Stock Exchange The London Stock Exchange (LSE) is a stock exchange based in London, England. the total market value of all companies trading on the LSE stood at US$3.42 trillion. Its current premises are situated in Paternoster Square close to St Paul's Cath ...

. The company was acquired by

ONGC The Oil and Natural Gas Corporation Limited (ONGC) is an Indian central public sector undertaking which is the largest government-owned oil and gas explorer and producer in the country. It accounts for around 70 percent of India's domestic pro ...

for $2.1 billion in January 2009.

Operations

Imperial Energy Corporation produces approximately 80% of its oil from Maiskoye field and 20% from Snezhnoye field in Tomsk region. The company had an extraordinarily high exploration success rate under British management with exploration activity on all blocks, in particular block 80 to the north of the river Ob, where a significant new Cretaceous play was discovered in June 2008. However, recent exploration results under the new Indian management have been disappointing. In addition, new investment aimed at boosting production has not materialised causing production levels to drop below targets. The parent company ONGC have recently run into trouble with the Government over poor operational results, unpaid salaries, legal confrontations with staff and outsourcing of valuable contracts to foreign companies resulting in a warning that future projects involving ONGC depended on better results from this current project. Imperial Energy have a large number of promising and previously undrilled structures in all blocks in addition to 3.5 billion barrels of reserves currently in the 3p or 'possible' category. New exploration wells and seismic data are planned for 2010. Imperial Energy has two operational pipelines flowing west of the

Ob River The Ob (; ) is a major river in Russia. It is in western Siberia, and with its tributary the Irtysh forms the world's seventh-longest river system, at . The Ob forms at the confluence of the Biya and Katun which have their origins in the Alta ...

: the long Maiskoye-Luginetskoye pipeline and the Snezhnoye-Zavyalovo pipeline, connected with the

Transneft Joint Stock Company Transneft () is a state-controlled pipeline transport company headquartered in Moscow, Russia. It is the largest oil pipeline company in the world. The company is operating over of trunk pipelines and transports about 80% ...

's pipeline system. The company also constructs the third pipeline linking its Block 80, East of the Ob River, to Zavyalovo.

Subsidiaries

The company is currently operating through four subsidiaries: * Allianceneftegaz * Sevkazgra * Sibinterneft * Nord Imperial The business is organised on a geographic basis: *

Tomsk Oblast Tomsk Oblast () is a federal subjects of Russia, federal subject of Russia (an oblast). It lies in the southeastern West Siberian Plain, in the southwest of the Siberian Federal District. Its administrative center is the types of inhabited loca ...

of Western

* Kostanai in North Central

Kazakhstan Kazakhstan, officially the Republic of Kazakhstan, is a landlocked country primarily in Central Asia, with a European Kazakhstan, small portion in Eastern Europe. It borders Russia to the Kazakhstan–Russia border, north and west, China to th ...

References

External links

* {{Authority control Companies based in Leeds Companies formerly listed on the London Stock Exchange British companies established in 2004 Oil and gas companies of the United Kingdom Oil companies of Russia Non-renewable resource companies established in 2004