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Irkutsk Oil Establishes Its Own Construction Subsidiary
March 13, 2018

Irkutsk Oil Establishes Its Own Construction Subsidiary

INK-StroyNefteGaz, LLC, the Irkutsk Oil’s subsidiary will focus on construction of sites, pipelines, well pads facilities, and various engineering infrastructure. The company was registered on 22 February 2018.

INK Discovered Two Oil Field in Irkutsk Region
July 3, 2017

INK Discovered Two Oil Field in Irkutsk Region

Irkutsk Oil Company (INK) discovered two new oil fields at the Kiysky and Srednenepsky blocks in the Irkutsk region. 

Irkutsk Oil Company started gas injection at Danilovsky field
February 10, 2017

Irkutsk Oil Company started gas injection at Danilovsky field

Associated gas re-injecting into formation was initiated at Danilovsky gas condensate field on February 3 when compressor unit K-2.1 at booster pumper station of Ariel JGK/4-4 Waukesha L7044GSI started operating in the testing mode.

Irkutsk Oil’s sets a new production record
September 7, 2016

Irkutsk Oil’s sets a new production record

August production reached a record of 750,000 tons while eight months’ accumulation production topped 5 million tons, a 50% increase relative to the same period in 2015.

INK Has Increased the Capacity of the Uploading Facility Connected to the ESPO
August 24, 2016

INK Has Increased the Capacity of the Uploading Facility Connected to the ESPO

Irkutsk Oil completed construction of three additional storages, 20,000 cubic meters each, at the Markovsky’s uploading facility. Therefore, the capacity of the uploading facility of pipeline connected to ESPO increased by almost three times - to 95,000 tons.

Irkutsk Oil Company Increased Production by 42% in the First Half of 2016
July 5, 2016

Irkutsk Oil Company Increased Production by 42% in the First Half of 2016

The INK Group produced 3.55 million tons of crude oil and condensate in the first half of 2016, (a 42 % increase in comparison to the same period of 2015). Similar to previous years, Yaraktinsky field was the main source of production.

Irkutsk Oil’s Production Exceeds 23,000 Tons A Day
June 14, 2016

Irkutsk Oil’s Production Exceeds 23,000 Tons A Day

In an effort to achieve the foregoing result since September 2014, INK Group constructed well pads, increased the number of producing wells, and implemented new technology to enhance its oil recovery to further develop field infrastructure.

Markovsky oil distribution hub becomes independent in energy consumption
March 2, 2016

Markovsky oil distribution hub becomes independent in energy consumption

Recently, the Markovsky power plant added four new gas-powered electric generators of Caterpillar design, all of which make over 1 megawatts. The three existing generators, capping at 1 MW each, now act as back-ups. The upgraded facility has the potential to generate over 7 megawatts.

INK acquires Verkhnenepsky (Northern) block at the state-run auction
December 18, 2015

INK acquires Verkhnenepsky (Northern) block at the state-run auction

The Irkutsk Oil Company won the auction for the right of geological studies and resource exploitation on Verkhnenepsky (Northern) block located in the Irkutsk region. The auction took place on December 18, 2015, in the Department of Geology and Licensing in the Irkutsk region.

INK – ITOCHU, INPEX and JOGMEC JV commences Ichyodinskoye Oil Field Pilot Production
November 30, 2015

INK – ITOCHU, INPEX and JOGMEC JV commences Ichyodinskoye Oil Field Pilot Production

JSC “INK-Zapad”, a joint venture among Limited Liability Company “Irkutsk Oil Company” (INK), ITOCHU Corporation, INPEX CORPORATION and Japan Oil, Gas and Metals National Corporation (JOGMEC), commences pilot production of Ichyodinskoye oil field discovered in 2012. The oil field is located within Zapadno-Yaraktinsky license block (Ust-Kutsky district and Katangsky district of Irkutsk region).

INK-Service reached its drilling milestone: 1  Million meters drilled
November 3, 2015

INK-Service reached its drilling milestone: 1 Million meters drilled

The total amount of drilling in the last decade, executed by the operating and exploration team of INK-Service (INK’s subsidiary), reached 1 million meters. This milestone was always in mind. In 2005, when the first oil well opened, a mere 3,000 meters were drilled. In the following year, two more wells were drilled, and the year after that brought forth three more. Steadily, the amount of rigs in operation increased and with it the total meters drilled.

Irkutsk Oil's 2015's Three Quarters are 40% higher than the same quarters in 2014
October 6, 2015

Irkutsk Oil's 2015's Three Quarters are 40% higher than the same quarters in 2014

INK Group has produced 4 million tons of oil and condensate in the first 9 months of 2015, a 140% increase in comparison to the same period in 2014. The entirety of the hydrocarbon production of the company originated from a total of eight fields.

INK has sharply increased the capacity of its pipelines connected to the ESPO
September 23, 2015

INK has sharply increased the capacity of its pipelines connected to the ESPO

Irkutsk Oil has officially connected a new (and larger) diameter pipe to the main ESPO pipeline system. This tie-in to the ESPO pipeline was made near the Transneft’s pump station "#7". The operation took place from the 15th to the 17th of September, during the ESPO’s planned shutdown.

Irkutsk Oil Production Increases By 140% in the First Half Year
July 2, 2015

Irkutsk Oil Production Increases By 140% in the First Half Year

Irkutsk Oil Company produced over 2.5 million tons of oil and condensate in the first half of 2015, a 1.4 fold increase relative to the same period in 2014.

Irkutsk Oil’s cumulative production exceeds 15 million tons
June 5, 2015

Irkutsk Oil’s cumulative production exceeds 15 million tons

Irkutsk Oil Company cumulatively produced its 15-millionth ton of hydrocarbons on June, 5 2015 since its inception in November 2000.

Irkutsk Oil Increased Production by 45% in the First Quarter of 2015
April 6, 2015

Irkutsk Oil Increased Production by 45% in the First Quarter of 2015

INK Group produced 1.25 million tons of oil and condensate in the first quarter of 2015, a 45 % increase to the same period in 2014. This growth is attributed to the increase in the number of producing wells and the advancement of implementing recovery rate technology.

Irkutsk Oil increased oil and gas condensate production by more than a third in 2014
December 29, 2014

Irkutsk Oil increased oil and gas condensate production by more than a third in 2014

In 2014, Irkutsk Oil Company produced over 4 million tons of oil and gas condensate, a 38% increase compared to the previous year. In 2015, the company plans to increase its production of liquid hydrocarbons by 50%, aiming to produce 6 million tons. In November 2014, the company’s cumulative production of liquid hydrocarbons since inception exceeded 12 million tons.

Irkutsk Oil Company acquired two oil and gas areas
December 1, 2014

Irkutsk Oil Company acquired two oil and gas areas

On November 25th 2014, Irkutsk Oil Company won an auction for the right to explore and develop hydrocarbons on Verhnetirsk and Verhnenepsk’s fields in Irkutsk region.

INK Increased Production by One Third In Three Quarters of 2014
October 10, 2014

INK Increased Production by One Third In Three Quarters of 2014

INK Group has produced 2.8 million tons of crude oil and condensate in the first 9 month of 2014, a 34% increase in comparison to the same period of 2013. Like in previous years, this growth is due to the increase of producing wells and application of advance technologies such as artificial lift and fracturing. Moreover, INK Group progressed development by fracturing certain low-permeable rocks and stimulated oil production from areas where traditional technologies were helpless.

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.

INK Increased Production by 29.4% in the First Half Year
July 3, 2014

INK Increased Production by 29.4% in the First Half Year

INK Group produced 1.785 million tons of crude oil and condensate in the first 6 months of 2014, a 29.4% increase contrasting that of the same period in 2013. Most of the production (1.591 million tons or 89% of the total volume) was retrieved from Yaraktinsky field. This growth bloomed thanks to the increase in producing wells, integration of the world’s leading technologies specializing in oil recovery, and the gradual introduction of new fields into operation.

Reserves of Ayansky (West) License Block are Approved
June 27, 2014

Reserves of Ayansky (West) License Block are Approved

In June 2014, the State Committee for Reserves (aka ‘Rosnedra’) approved the initial reserves of the Ayansky (West) license block, with the respective license holder being LLC Tikhookeansky Terminal, a subsidiary of Irkutsk Oil Company. These reserves are currently estimated to contain 0.26 million tons of oil. The license for the Ayansky (West) license block was received in March 2010. . Located in the northern part of the Irkutsk region, this block borders the Ust’-Kutsky, Kirensky, and Katangsky districts. The total area of the license block measures 162.7 square kilometers.

INK Increases Its Volume of Drilling
June 5, 2014

INK Increases Its Volume of Drilling

In 2014, Irkutsk Oil Company plans to expand its total volume of drilling in all fields and licensed areas by an increased 70% over the last year’s measurements, resulting in a volume of up to 300 thousand meters per year. Of the 300 thousand meters, almost 90% of it, equivalent to about 267 thousand meters, will be accomplished by CJSC “INK-Service”, the in-house drilling company.

Irkutsk Oil Company Produces Its Ten-Millionth Ton of Oil
May 15, 2014

Irkutsk Oil Company Produces Its Ten-Millionth Ton of Oil

Irkutsk Oil Company’s cumulative liquid hydrocarbon production exceeded 10 million tons in May 2014. For many years the Company has been steadily increasing its oil and condensate production and expanding its number of both producing and perspective license blocks and fields.

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”.

March 22, 2012

JSC "Rusgeology" and Irkutsk Oil Company signed the Agreement on Cooperation

On March 5, 2012, state-owned JSC “Rusgeology” and Irkutsk Oil Company signed the Agreement on Cooperation. Under the Agreement, parties aim to create and adopt new technologies in exploration and production in the East Siberia.

Irkutsk Oil Company shipped the 1st million ton of crude oil via ESPO
November 11, 2011

Irkutsk Oil Company shipped the 1st million ton of crude oil via ESPO

On the 10th of November 2011 Irkutsk Oil Company supplied first million tons of oil to ESPO (East Siberia – Pacific Ocean) pipeline. The company’s president Mr. Nikolay Buynov and Mrs. Marina Sedykh, CEO greeted employees with this important milestone achievement.

INK increased production by 77% to 827 k-tons in the first three quarters of 2011
October 7, 2011

INK increased production by 77% to 827 k-tons in the first three quarters of 2011

INK Group produced 827,100 tons of crude oil and condensate in the first 9 months of 2011, a 77% increase compared to the same period of 2010. Most of production (761,300 tons or 92% of the total) was originated at Yaraktinsky oil and gas condensate field. The Yaraktinsky field has also enjoyed the largest percentage increase of 87.7% compared to three quarters of production in 2010. Oil production at Yaraktinsky field has been constantly increasing every month (from 61 thousand tons in January, to 107 thousand tons in June). Growth of production has been achieved by increase in number of producing wells and putting a new booster pumping station into operation. Crude oil is treated at Yaraktinsky field at oil treatment facility (OTF) and delivered to the ESPO pipeline.

Irkutsk Oil Company supplied over half million tons of crude into ESPO system
July 13, 2011

Irkutsk Oil Company supplied over half million tons of crude into ESPO system

As of July 11th, 2011, Irkutsk Oil Company has delivered its 500th thousand ton of oil into Transneft’s ESPO system. The Company hopes that another important milestone of 1 million tons of crude oil uploaded into ESPO would be reached by year end. The construction of 62 km connecting pipeline from Yaraktinsky field to ESPO with capacity of 3.5 million tons per year was completed in the end of 2010. The pipeline was put into operation on January 18, 2011 and its first ton of oil was delivered via ESPO pipeline to port Kozmino in February of this year.

INK increased production by 66% in the first half year
July 11, 2011

INK increased production by 66% in the first half year

INK Group produced 503,600 tons of crude oil and condensate in the first 6 months of 2011, a 66.2% surge compared to the same period of 2010. Most of production (446,300 tons or 89% of the total) was originated at Yaraktinsky oil and gas condensate field.

Construction of ‘Danilovsky-Yaraktinsky’ pipeline is approved by residents of Katangsky district
April 29, 2011

Construction of ‘Danilovsky-Yaraktinsky’ pipeline is approved by residents of Katangsky district

Residents of Katangsky District approved the construction of a pipeline which will connect the Danilovsky and Yaraktinsky fields in the course of public consultations which were held on April 25, 2011 in the city of Erbogachen. These public consultations focused on environmental issues, but discussions showed that residents were also interested in various economic issues such as employment and support of north indigenous people of the Katangsky district involved in hunting and fishing. Representatives of local municipalities, school districts, police and other public sectors made various comments during the consultations.

Irkutsk Oil increased 1st quarter production by 61% compared with the same period of 2010
April 6, 2011

Irkutsk Oil increased 1st quarter production by 61% compared with the same period of 2010

Irkutsk Oil Company produced 252.9 thousand tons of oil and condensate in the 1st quarter of 2011, a 61% increase over the same period of the last year. An increase was reported at all of the company’s producing fields including Yaraktinsky (206,000 tons or 63.3% increase) and Danilovsky (35,200 tons or 36.6% increase). The company produced 5,100 tons of oil and condensate at Markovsky and 3,900 tons at West Ayansky fields in the 1st quarter alone. The company’s target is to reach 1 million tons of production in 2011, which would be a 1.5 increase compared with last year's production. Increase in production is attributed to an extensive drilling program and an application of advanced drilling techniques.

Crude production is growing
November 11, 2010

Crude production is growing

During the period from January to October this year, Irkutsk Oil Company produced 523,790 tons of oil and condensate, some 1.8-fold increase over the same period of last year. This increase was due to the commissioning of new producing wells and applying of the artificial lifting technology to the wells which have been drilled in the past.

October 21, 2010

INK has obtained a production license to develop the Angaro-Ilimsky field

JSC “SNGK”, a subsidiary of Irkutsk Oil Company has obtained a license for exploration and production at the Angaro-Ilimsky oil and gas condensate field. The field is located in the Ust’-Udinsky and Bratsky districts of in the Irkutsk region of Eastern Siberia, Russia.

The production increase of INK is 82%
October 6, 2010

The production increase of INK is 82%

For the past 9 months of 2010, Irkutsk Oil Company increased oil and condensate production to 467 300 tons, an 82% increase over the same period of last year.

Second million ton is produced
September 15, 2010

Second million ton is produced

Today, September 15, Irkutsk Oil Company shipped its second million ton of production from the railroad terminal in Ust’-Kut. For almost ten years, Irkutsk oilmen have been working hard to achieve this remarkable result.

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.

Irkutsk Oil Company significantly increases oil and condensate production in 1H10
June 30, 2010

Irkutsk Oil Company significantly increases oil and condensate production in 1H10

In the first half of 2010, Irkutsk Oil Company increased oil and condensate production to 303,000 tons, an 88.7% increase over to the same period last year.