Imperial Energy is an upstream oil exploration and production company focused on Russian Federation.
The Company was founded by a group of Russian and foreign investors as an independent middle size oil producer in 2004. Through a series of acquisitions, by the end of 2004, the company had controlling stakes in four license-holding companies, three of which had exploration acreages in the Tomsk area of Western Siberia and one near Kostanai in Kazakhstan. Imperial Energy held a vast program of exploration works which has led to 7 new fields discoveries in Tomsk region. Thanks to its strategy, Imperial rapidly moved from being a junior oil and gas exploration company to an exploration and production organization.
Imperial Energy is a company of international level. In 2004 Imperial Energy listed its shares on London’s AIM exchange, then moved to the main LSE market in May 2007 and became a constituent of the FTSE 250 Index.
The company was acquired by ONGC Videsh Limited (OVL), the overseas arm of Oil and Natural Gas Corporation (ONGC), the flagship National Oil Company of India on 13th January, 2009 and the company was delisted from LSE on 9th March 2009.
In 2006, IEC established its own drilling company, RUS IMPERIAL GROUP (RIG), which now operates three heavy duty drilling rigs, three workover rigs and a coiled tubing unit. Shortly IEC also owned 50% of Imperial FracService (IFS) that provides hydraulic fracture services to improve production in its fields and service to the third parties.
During the period 2007-08, IEC built 367 km of pipeline infrastructure connecting its fields to the Transneft pipeline system. Prior to its pipeline completion, IEC was selling all of its oil at the wellhead to local off-takers for use in the Russian domestic market. The completion of pipelines enabled Imperial Energy to transport its oil to both domestic and export markets.