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US company Univation Technologies became the licensor for INK Polyethylene Plant
April 1, 2019

US company Univation Technologies became the licensor for INK Polyethylene Plant

lrkutsk Polymer Plant LLC (IPP LLC, 100% subsidiary of Irkutsk Oil Company, LLC) has selected Univation Technologies’ UNIPOL™ PE Technology for new polyethylene plant to be located in Ust-Kut, lrkutsk region, in the Russian Federation.

Irkutsk Oil Company Plans to Build Helium Production Plant at Yaraktinsky Filed
October 4, 2018

Irkutsk Oil Company Plans to Build Helium Production Plant at Yaraktinsky Filed

Cryo Technologies has signed a contract with Irkutsk Oil Company to supply helium purification and liquefaction facilities with a nominal capacity of 10 million liters per year (266 mmscf/year).

Irkutsk Oil Company and Goldman Sachs Discussed Partnership Opportunities
September 28, 2018

Irkutsk Oil Company and Goldman Sachs Discussed Partnership Opportunities

On September 3, 2018 Chairman and COO of Irkutsk Oil Company Nikolay Buynov met Goldman Sachs senior leadership representatives. Meeting took place in London, UK in the regional headquarter of GSI.

Irkutsk Oil Company and China Pingmei Shenma Energy Chemical Group Signed an Agreement on Joint Gas Processing Project
July 18, 2018

Irkutsk Oil Company and China Pingmei Shenma Energy Chemical Group Signed an Agreement on Joint Gas Processing Project

On July 17 Irkutsk Oil Company (INK) represented by Deputy General Director Mr. Dmitry Levin and China Pingmei Shenma Energy Chemical Group Co., Ltd represented by its Chairman Liang Tesheng signed an agreement on the joint gas processing project. Signing ceremeny took place in Moscow. The document calls for construction of natural gas and associated petroleum gas processing facilities.

Ramboll Environ evaluates the environmental impact of the Utsk-Kutsk polymer plant
May 24, 2017

Ramboll Environ evaluates the environmental impact of the Utsk-Kutsk polymer plant

Spanning May 16 to May 19, the polymer plant in city of Ust-Kut expected a lengthy analysis process, one that examined both the environmental and the socioeconomic impact of the facility.

Nikolay Buynov spoke at the plenary of the international oil and gas conference CERAWeek
March 9, 2017

Nikolay Buynov spoke at the plenary of the international oil and gas conference CERAWeek

The chairman of Irkutsk Oil Company, Nikolay Buynov, participated in the largest annual industry forum, CERAWeek, held in Houston, the US energy capital. He spoke at the panel on March 7th along with the Minister of Energy of the Russian Federation, Mr. Alexander Novak, and other leaders of the Russian oil industry. Nikolay Buynov presented Irkutsk Oil Company as one of the forerunners in the sector of independent oil-producing companies in Russia.

Irkutsk Oil Company is on target to complete gas processing plant by October 2015
February 9, 2015

Irkutsk Oil Company is on target to complete gas processing plant by October 2015

Irkutsk Oil Company is on track for the construction of the gas processing plant and corresponding infrastructure by October 2015. The general contractor reported that the development of the 3.6 million nm³/year gas processing plant at Yaraktinsky field has surpassed 65% completion and the construction of the liquid petroleum gas (LPG) uploading terminal and storages (in Ust’-Kut) is more than 30% complete.

Irkutsk Oil’s Gas Project Received Status Of Regional Significance
August 27, 2014

Irkutsk Oil’s Gas Project Received Status Of Regional Significance

Irkutsk Government’s Investment Committee has recently upheld Irkutsk Oil’s gas project in Ust’-Kut. This gas processing project has previously been supported by various federal and regional initiatives introduced in 2013-2014. Gaining regional status enables the company to enjoy additional tax preferences. Irkutsk Oil’s gas project, estimated at 120 billion rubles, has many stages, including the construction of gas processing and polyethylene plants in city of Ust’-Kut. Moreover, the company plans to build a gas-fired power plant to supply electricity and steam for new facilities.

Irkutsk Oil Company plans an LNG plant by 2018
July 30, 2014

Irkutsk Oil Company plans an LNG plant by 2018

In the recent Interdepartmental Commission for Protection of the Baikal, taking place on July 25, 2014, Irkutsk Oil Company announced its plans to build an LNG plant capable of producing up to 84,000 tons of LNG annually. INK aims to complete the foundry by 2018. The plant itself will begin operations near the city of Ust’-Kut in Q4 2017. Moreover, the plan is to supply LNG to the East Siberian regions, specifically Zabaikalsk municipality. It is fair to note, that the Irkutsk region has closed the agreement for the further development of the sector with the latter.

Preparation of the gas pipeline route starts
July 24, 2014

Preparation of the gas pipeline route starts

In July 2014, the construction unit of INK began ground preparations for the gas pipeline tack, which will be installed between the oil treatment facilities at Yaraktinsky field and the processing facilities of the city of Ust’-Kut. It measures at a grand total of 205 kilometers, making it the most aspiring gas pipeline venture in the region yet. It begins in the Yaraktinsky field, emerges near the Verkhnemarkovo village, runs along the existing INK oil pipeline and road «Viluy», crosses the Nizhnyaya Tunguska, the Malaya Tira and the Bolshaya Tira River, along with various passages and the ESPO pipeline.

Modeling the Future
March 28, 2014

Modeling the Future

“Irkutsk region’s oil and gas condensate fields’ development must be multifaceted,” said Nikolay Buynov, Chairman of the Board, during the Irkutsk-based conference entitled “Development of Oil and Gas Resources of East Siberia and the Far East”.

INK Uses Modern Techniques for Risk Analysis in Implementation of Gas Project
February 25, 2014

INK Uses Modern Techniques for Risk Analysis in Implementation of Gas Project

Irkutsk Oil Company has adopted Hazard and Operability Analysis (HAZOP)* to identify the potential risks and operability problems of a new gas processing plant being built in Yaraktinsky field. The new plant will have an operating capacity of 3.6 million cubic meters per day.The company decided to conduct HAZOP studies at an early stage of the gas project, and plans to conduct several more studies at more advanced stages.

Irkutsk Region’s Governor Sergei Eroshchenko visited Irkutsk Oil Company’s properties
September 5, 2012

Irkutsk Region’s Governor Sergei Eroshchenko visited Irkutsk Oil Company’s properties

At the end of August 2012, during the official visit to Ust’-Kut district, Mr. Sergey Eroshchenko visited the Yaraktinsky oil and gas condensate field. He noted that Irkutsk Oil Company has already begun a project of gasification which is ready to partake in the East Siberian and Far Eastern Development Program.

Cycling-process as the first commercial trial in Russia
December 21, 2010

Cycling-process as the first commercial trial in Russia

On December 17, at the Second International Energy Forum in Moscow, Irkutsk Oil Company presented the report on ‘Cycling-process as the first commercial trial in Russia’.

Successful start to the first project for gas cycling with condensate production in Russia
August 9, 2010

Successful start to the first project for gas cycling with condensate production in Russia

A gas cycling facility, including a gas re-injection compressor plant, has successfully been put into operation at the Yarakta field. The facility was commissioned by AG Equipment Company, a US-based equipment manufacturer, and EnergoService Engineering Center, an installation contractor.

Determination of gas re-injection JI project at Yarakta field successfully completed
July 8, 2010

Determination of gas re-injection JI project at Yarakta field successfully completed

Bureau Veritas Certification (Bureau Veritas) completed determination procedures on the project design document for the joint implementation (JI) project entitled “Associated Petroleum Gas Flaring Reduction at the Yarakta Oil Field, Irkutsk region, Russia” and performed by JSC “UstKutNeftegas”, a subsidiary of Irkutsk Oil Company.

Irkutsk Oil Company and Japanese Trading Company Marubeni (Marubeni Corporation) sign Memorandum of Understanding
June 10, 2010

Irkutsk Oil Company and Japanese Trading Company Marubeni (Marubeni Corporation) sign Memorandum of Understanding

On Tuesday, July 10, Irkutsk Oil Company LLC and the Japanese trading company Marubeni (Marubeni Corporation) signed a Memorandum of Understanding. The document was signed by Ms. Marina Sedykh, Irkutsk Oil Company’s General Director, and Mr. Shoichi Ikuta, Executive Officer, on the behalf of Marubeni. Mr. Shoichi Ikuta stated during the signing ceremony that the Memorandum with Irkutsk Oil Company is the first stage of Marubeni Corporation‘s activity in Irkutsk region.

Bureau Veritas starts determination (independent expert review) of joint implementation project (JIP) on Associated Gas Utilization at the Yaraktinskoe field
March 23, 2010

Bureau Veritas starts determination (independent expert review) of joint implementation project (JIP) on Associated Gas Utilization at the Yaraktinskoe field

Bureau Veritas started determination (independent expert review) of the joint implementation project (JIP) on Associated Gas Utilization at the Yaraktinskoe field, which is planned to be implemented within the frameworks of the Kyoto Protocol. The contract of sale and delivery of emission reduction units released as a result of the implementation of gas re-injection project at the Yaraktinskoe field was signed between UstKutNeftegaz (subsidiary of IrOC) and Stichting Carbon Purchasing Intermediary in August, 2009.