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. Irkutsk Oil Company increased production by commissioning of new production wells and applying the artificial lifting technology to the wells which have been drilled in the past. The company commissioned the gas cycling facility in August, this year, and started re-injecting gas into the formation. This enabled the company to increase recovery of gas condensate from pay zones and reduce gas flaring.
Most of the growth in oil and condensate production was achieved at the Yarakta field - 405,600 tons (1.85-fold increase).
Irkutsk Oil Company projects a total production at 650,000 tons of oil and condensate in 2010, which is 1.7-fold over the last year. In the beginning of 2011, the company’s fields are scheduled for connection to the Transneft’s ESPO pipeline, which will have considerable positive effect on oil transportation and enable the company to further increase oil and gas condensate production.
Photo: Yarakta-ESPO pipeline
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