Irkutsk Oil’s main productive assets are Yaraktinsky, Danilovsky, Markovsky, and Ichyodinsky fields, as well as Ayansky license area, which includes the West Ayansky field.The Group has been growing its production every year, and has one the fastest rates of production growth among Russian oil companies. Over the past seven years, Irkutsk Oil ‘s hydrocarbon production increased by over 7 times, from 1.3 million tons in 2011 to 8.5 million tons in 2017. In end of 2017, the Group’s cumulative production of oil and gas condensate for its entire period in operation reached 35 million tons.
Oil and condensate production, thousand tons
Since its inception, the Group has invested more than 180 billion rubles into the development of its fields and license areas, as well as the construction of operational, engineering, and transportation infrastructure.
The Group also focuses on increasing its oil recovery rate and developing tight hydrocarbon reserves. It successfully applies multistage hydraulic fracturing and re-injection of natural and associated gas into the reservoir (cycling process).
Irkutsk Oil is actively working with leading research organizations, such as VNIIneft, Russian State University of Oil and Gas, and the Oil-Gas-Science Innovation Fund to study more ways to boost its recovery rates.