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Regional authorities support Imperial Energy’s initiative for development of hard-to-recover reserves.

On September 12, 2013, Deputy Governor of the Tomsk region for Industry and Fuel & Energy Complex, L.M. Reznikov, together with the new Head of Department for Subsoil Use and Development of Fuel and Energy Complex of the Tomsk region, I.V. Goncharov, made a visit to the Head office of Imperial Energy Group. 

The main purpose of this visit was to participate in the ceremony of entering into an agreement on technology partnership between Imperial Energy Group and the American company Liberty Resources. In the course of the visit, presentations about activities of Imperial Energy and Liberty Resources were held for the honorary guests. 

Chief Executive Officer of Imperial Energy Group, P.B. Pandey, thanked L.M. Reznikov and I.V. Goncharov for their agreement to participate in the ceremony and for the overall support that the regional authorities provided to the Group. P.B. Pandey also expressed his hope that the pilot programs to be implemented within the frame of strategic technology cooperation with Liberty Resource would be successful, in which case these technologies shall be deployed for full-fledged, economically viable development of low-permeability reservoirs as well as the Bazhenov suite.

In their turn, L.M. Reznikov and I.V. Goncharov also expressed high appreciation of the joint project that Imperial Energy and its future technology partner, Liberty Resources, undertook for the purpose of deployment of cutting-edge technologies for development of low-permeability reservoirs. Representatives of the regional authorities highlighted the significance of this pilot and innovational project to be deployed in the territory of the Tomsk region and also assured both management teams that all-round assistance shall be provided on the part of the regional authorities for deployment of this project.