Gazprom and Irkutsk Oil Company will contemplate the joint development project in the Krasnoyarsk Territory

October 3, 2019

Mr. Oleg Aksyutin, Deputy Chairman of the Gazprom Management Committee and Nikolai Buynov, Chairman of the Board of Directors of Irkutsk Oil Company, signed a Memorandum of Intent at the 9th St. Petersburg International Gas Forum.
«Газпром» и Иркутская нефтяная компания заинтересованы в совместной разработке месторождений в Красноярском крае

Pursuant to the document, the companies intend to jointly set up the Project for exploration, production, transportation, processing and sale of hydrocarbons from the Sobinsky and Paiginsky fields, as well as the Paiginsky block, in the Krasnoyarsk Territory.

The parties prepared a list of actions to implement the Memorandum. In particular, they plan to prepare a feasibility study on the joint development of the aforementioned fields.

Background

Gazprom Dobycha Krasnodar (a wholly-owned subsidiary of Gazprom) is the license holder for the Sobinsky oil, gas and condensate field.

The license for the Paiginsky block belongs to Paiga, Ltd., an affiliate of Irkutsk Oil Company.

Irkutsk Oil Company is one of the largest independent hydrocarbon producers in Russia. The company and its affiliates are engaged in the geological surveys, exploration and production of hydrocarbons within the fields and licensed areas of East Siberia, namely in the Irkutsk Region, the Krasnoyarsk Territory, and the Republic of Sakha (Yakutia).

A subsidiary of Irkutsk Oil Company and an affiliate of Toyo Engineering Corporation signed the contract for construction management of the facilities of Irkutsk Polymer Plant