SPAIN’S energy company Repsol has made a significant hydrocarbon discovery in a previously unexplored region of West Siberia.

The company – in their joint venture with Russia’s Alliance Oil – has discovered upwards of 240 million barrels in an area they have been surveying since 2010.

News of the find has come at a strategic point as European officials consider imposing further sanctions on Moscow for its alleged support of Ukraine separatists.