ST. PETERSBURG, Feb. 11 (Xinhua) -- Russia's energy company Gazprom Neft has discovered a new oil field in the Yamal Peninsula, with estimated geological reserves of 55 million tons of oil, the company announced on Wednesday.

Russian national flag waves at the Kremlin in Moscow, Russia, January 6, 2023. (Photo: Xinhua)

The newly discovered field is located in the Arctic zone of the Yamalo-Nenets Autonomous Area and has been named after renowned geologist Alexei Kontorovich.

"Both in the Arctic zone and in Eastern Siberia, as well as in many other regions, there are still opportunities to find new large and super-large hydrocarbon fields," said Alexander Dyukov, head of Gazprom Neft, adding that the company will continue intensive geological exploration across all its operating regions.

Gazprom Neft is one of Russia's leading oil producers and plays a key role in the country's Arctic energy development strategy.