Siberia has its newest oil tycoon, the 19 year old son of Chelsea FC-owning tycoon Roman Abramovich

The move sees him following in his father's footsteps. Earlier Roman held a majority stake in Sibneft which he sold eight years ago, netting $13 billion.

The 19 year old - who is described as an intern with the London-based branch of Russia's VTB Bank - used his investment vehicle ARA Capital to obtain a 45 % stake in a company called Zoltav. 

Reports in London said Zoltav is buying CenGeo Holdings - owner of Koltogor for $26 million using newly issued shares in a reverse takeover.

'ARA Capital has also pledged $20 million to fund its development in return for more shares,' said The Times newspaper. 

Arkady is the eldest son of Roman's six children. 

The oil field was previously linked to London-based Sibir Energy.