Contractors Site Map Rus

Company History

The creation of Irkutsk Oil Company (also INK, INK Group) was preceded by many years of research and exploration of Eastern Siberia’s oil and gas resources during Soviet era. Back at that time, Eastern Siberia was a relatively new territory in terms of oil and gas resources.  An official date of beginning of oil exploration is considered to be March 18, 1962, when the first oil gusher erupted in the village of Verkhnemarkovo in Ust-Kutsky district (Irkutsk region). This gave rise to more extensive exploration of the region’s hydrocarbon reserves, as a result of which many oil fields of Eastern Siberia were discovered, including Yaraktinskoye and Danilovskoye fields, which later became the main operating fields of INK.

Irkutsk Oil Company was founded in 2000. INK pioneered commercial oil production in Irkutsk region and produced its first 73 thousand tons of crude oil and gas condensate in 2003. In spite of a difficult period for the country’s economy at the beginning of 2000s, the Company successfully passed different stages of formation and development thanks to the initiative, creative approach, and dedication of its staff.

You can read more about the history of the company in the book “Oil: a big game for a small company” (ru).


Connecting Yakutia (2023)

Открытие Якутии (2023)
  • Opening of the Lensk delivery and acceptance point in Yakutia. Supply of the oil from the Machchobinsky oil and gas condensate field to the East Siberia – Pacific Ocean pipeline started via the Group’s own delivery and acceptance point (DAP) named Lensk (LLC Sakhaneft). Thus, in the Republic of Sakha (Yakutia) INK became a private integrated company conducting exploration, oil production and treatment to quality group 1, and sales.
  • Expert RA rating agency assigned the company a rating of ESG-III(a) with a stable outlook, which goes to show that the company extensively integrates ESG aspects into its key decisions.
  • The overall construction progress of the Irkutsk Polymer Plant (IPP) reached 80%. The Ust-Kutsky Gas Processing Plant and IPP first received feedstock gas from the Markovsky field. Supply of dry stripped gas (DSG, 98% methane) started from well 16 of the Markovsky oil and gas condensate field via the methane pipeline to the facilities of LLC Ust-Kutsky Gas Processing Plant and LLC Irkutsk Polymer Plant.
  • Irkutsk Oil Company signed a tripartite agreement to develop and implement a master plan of the Ust-Kutsky district.
  • INK’s corporate museum received the National Corporate Museum Award in the category Best Education Projects and appeared among the top 25 corporate museums in Russia based on the results of the year.

Striving for leadership (2022)

Стремление к лидерству (2022)
  • Construction of the Irkutsk Polymer Plant is more than halfway through. Total progress at the end of the year was 67.2%.
  • JSC INK-Capital received a second-party confirmation by the Expert RA rating agency of its bonds being fully aligned with the transition bond principles set forth in The Climate Transition Finance Handbook by the International Capital Markets Association (ICMA) and the adaptation financial instrument criteria formulated in the Russian Federation Government’s Decree No. 1587 of September 21, 2021.
  • The Decarbonization Strategy was adopted. A corporate system of monitoring, reporting and managing greenhouse gas emissions was implemented.
  • Stage 2 of the gas project implementation is nearing completion including gas treatment facilities in the Markovsky and Yaraktinsky fields, а gas fractionation unit near Ust-Kut town.
  • LLC INK debuted as a leader in the first national ESG rating and the sustainable development rating compiled by the leading business media The Expert.
  • Irkutsk Oil Company received awards in the contest, appearing as the winner in the category Contribution to Sustainable Development of the Regions. The Company’s achievements were also acknowledged with a diploma in Corporate Environmental Responsibility. The contest is organized by the Russian Union of Industrialists and Entrepreneurs (RUIE).
  • The corporate museum of Irkutsk Oil Company and the INK Group hit the podium in the fourth All-Russian Corporate Museums Contest.

Towards sustainable development (2021)

В направлении устойчивого развития (2021)
  • The Irkutsk Oil Group adopted the Sustainable Development and ESG Policy – the framework document setting out the Group’s principles and focus areas in the field of sustainable development and ESG factors management.
  • A Sustainable Development and ESG Committee was formed. Its role is to preliminarily review and develop recommendations to focus areas, strategy and development plans to achieve Sustainable Development, meet the SDGs and incorporate ESG aspects in its operations.
  • INK was awarded the Badge of Environmental Culture established in the Irkutsk Region. The company’s management and personnel received a letter of appreciation of the Irkutsk Region, for systematic implementation of corporate sustainable development principles and advanced ideas into the program of developing environmental culture in the region’s community.
  • Irkutsk Oil Company LLC launched the first solar-powered well. A linear telemechanic system, powered by a renewable energy source – solar batteries – was implemented at one of the well pads of the Yaraktinsky oil and gas condensate field.
  • Irkutsk Polymer Plant LLC (IPP, a project by Irkutsk Oil Company LLC) started the installation of large-size equipment and completed the rig-up of the first out of 45 heavy large-size items – a 54.6 m high and 271.5-ton quench water column for the integrated pyrolysis plant.

A logistic megaproject

Крупный логистический проект (2020)
  • Irkutsk Oil Company’s project of building Irkutsk Polymer Plant (IPP) gained approval of the Ust-Kutsky district community. Public hearings on the plant’s design documentation and environmental impact assessment (EIA) were held on January 23 in the Ust-Kut municipal administration.
  • Irkutsk Oil Company completed installation of major process equipment items of the gas fractionation facility (GFF) in Ust-Kut as part of the gas reserves development project.
  • IIrkutsk Oil Company completed a mammoth task of transporting process equipment from South Korea to the construction site of Irkutsk Polymer Plant (IPP) in Ust-Kut. This is the largest scale logistic project involving transportation of large-size equipment in the region’s recent history. Delivery of the cargo took three months, on top of almost four years of preparations. Despite the challenges of the weather and the COVID-19 pandemic, the equipment was delivered on schedule.
  • INK-Service LLC conducting drilling of oil, gas and water wells celebrated its 15th anniversary.

Projects of the Future (2019)

Проекты будущего (2019)
  • • Irkutsk Oil Company was the first in Russia to use innovative rail tanks to transport liquefied petroleum gas (LPG). The tanks were made by Research and Production Corporation “United Wagon Company” (RPC UWC) by order of INK Group’s partner Texol, one of the largest private railway operators in the Republic of Kazakhstan.
  • At Yaraktinsky field, a demethanizer column was installed, which forms a part of the сomplex gas processing facility (CGPF). The purpose of the column is to separate metane from the natural gas liquids (NGLs).
  • The first service center in Eastern Siberia for repairing components of electrical submersible pump (ESP) units for oil and gas wells has been opened in Ust-Kut. The service center was opened at the initiative of Irkutsk Oil Company.
  • Irkutsk Oil Company introduced a cold recycling technology for road repair. Using the cold recycling technology, the Company plans to reconstruct its main service lanes.
  • Irkutsk Oil Company installed a memorial sign to commemorate the 50th anniversary of the Yaraktinsky field.
  • For the second year in a row, Irkutsk Oil Company became a leading company in the ranking of business entities of Irkutsk region in 2018. In addition, the Company won in the nomination “Petrochemical and Pharmaceutical Complex”.
  • • Irkutsk Oil Company held an architectural design competition to create concepts for a residential community area in the city of Ust-Kut, Irkutsk region. The Company company continued preparatory periodpreparation works for the construction of the polymer plant near Ust-Kut. The community area is to be completed in 2023.

Continuing the Gas Project (2018)

Под знаком газового проекта (2018) A liquefied petroleum gas (LPG) collection and storage terminal in the city of Ust-Kut
  • INK class was opened in Ust-Kut on the basis of a secondary school No. 9. The project is a part of training specialists for the oil and gas industry within the school-university-company education model.
  • Irkutsk Oil Company and China Pingmei Shenma Energy Chemical Group signed an agreement to establish a joint venture for gas processing. Activities of the new joint venture should make a significant contribution to the development of economic cooperation between Russia and China.
  • Irkutsk Oil Company entered the first hundred of the 500 largest Russian companies according to RBC (98th place). The company became the only company from Irkutsk region in the top hundred.
  • Irkutsk Oil Company and the Government of Irkutsk region signed four special investment contracts.

New joint exploration project (2017)

Новый регион присутствия (2017)
  • Irkutsk Oil Company and Japan Oil, Gas and Metals National Corporation (JOGMEC) celebrated the anniversary of cooperation in Moscow and at production facilities of the company in Irkutsk region.
  • Irkutsk Oil Company discovered two new oil fields at the Kiysky and Srednenepsky blocks in the Irkutsk region.
  • Irkutsk Oil Company started gas injection at Danilovsky field. Gas re-injection will allow the utilization of up to 60% of the total gas solution produced at the Danilovsky field.

Production record (2016)

Рекорды добычи (2016)
  • Irkutsk Oil’s production exceeds 23,500 tons a day.
  • Irkutsk Oil Company and the Government of the Republic of Sakha (Yakutia) signed a social and economic partnership agreement for the first time.
  • 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.

Developing Oil Production and Transportation (2015)

Увеличение мощностей по добыче и транспорту нефти (2015) JSC “INK-Zapad” commenced pilot production of Ichyodinskoye oil field
  • INK celebrated its 15th year in business.
  • INK-Service reached its drilling milestone: 1 Million meters drilled.
  • The Museum of INK’s History officially opens.
  • Irkutsk Oil’s cumulative production exceeds 15 million tons.
  • Irkutsk Oil began to carry out pilot testing of new facilities, which will process and treat sour oil and gas.

Gas project launch (2014)

Старт газового проекта (2014) Pipeline installation between the oil treatment facilities at Yaraktinsky field and the processing facilities of the city of Ust’-Kut
  • INK Group produced 4 million tons of oil and gas condensate, increasing its hydrocarbon production by 38% compared to 2013.
  • Irkutsk Oil Company was named the best company in Irkutsk regions’ Fuel and Energy Complex for the second consecutive year.
  • Two new license blocks in in the Republic of Sakha (Yakutia) – Verhnetirsky and Verhnenepsky – were acquired by INK.
  • INK’s headquarters were relocated into a new office under the new address Bolshoy Liteyniy Prospect, 4, situated in the business center Irkutsk-City
  • Cumulative production of oil reached ten million tons
  • Irkutsk Oil intensified the implementation of its gas project and began ground preparations for the gas pipeline to be installed between the oil treatment facilities at Yaraktinsky field and the processing facilities of the city of Ust’-Kut

Integration of the World’s Leading Technologies (2013)

Внедрение передовых технологий (2013)
  • The Group produced almost 2.9 million tons of oil and gas condensate, increasing its hydrocarbon production by 28% compared to 2012 and by 2.4 times compared to 2011.
  • INK Group received an integrated management certification under two international standards: ISO 14001: 2004 + Cor 1: 2009 (Environmental Management System); BS OHSAS 18001: 2007 (Occupational Health and Safety Management System).
  • Irkutsk Oil Company’s team won the first B2B professional competition in the region’s oil producers - "Best in Profession”.
  • As a result of a transaction between the European Bank for Reconstruction and Development (EBRD) and Goldman Sachs International (GSI), EBRD’s stake in the Group decreased to 4.4% and GSI became a shareholder with a stake equal to 3.75% of INK-Capital’s charter capital.
  • The company used coiled tubing for work-over at Yaraktinsky field for the first time in order to enhance oil recovery.

New Discoveries (2012)

Открытие новых месторождений (2012)
  • RusEnergy ranked Irkutsk Oil the best in the “Small/Medium-Size Company of the Year” category.
  • World Finance, a leading financial magazine, named Irkutsk Oil Company "The Best Independent Company in Eastern Europe of 2012".
  • The Russian-Japanese Joint Venture INK-Zapad contoured three new fields: Tokminsky, Ichyodinsky (within the West-Yaraktinsky license block), and Bolshetirsky field within the same named license block.
  • Re-injection of associated petroleum gas (APG) to the formation began at Yaraktinsky field.
  • INK acquired the Kiysky license block in Irkutsk region and Verkhnedzhunkunsky and Yuzhno-Dzhunkunsky license blocks in the Republic of Sakha (Yakutia) at state-run auctions.
  • INK won EBRD’s 2012 award for excellence in environmental and social performance.
  • State-owned JSC “Rusgeology” and Irkutsk Oil Company signed an agreement on cooperation.

Tie-in to ESPO (2011)

Подключение к ВСТО (2011)
  • The cumulative amount of oil shipped via ESPO reached one million tons on November 10, 2011.
  • The Company began shipping hydrocarbons to port Kozmino via ESPO on January 18th.
  • Thanks to the completion of the "Yaraktinsky field - ESPO" pipeline and the consecutive growth of production, the second construction stage of the Oil Treatment Facility at Yaraktinsky's field began.
  • Five new licenses blocks were purchased, including the Ayansky (West), Byuksky, Suntarsky, Srednenepsky and Yalyksky license blocks.

Gas-cycling Process (2010)

Пионер сайклинг-процесса (2010)
  • The cumulative amount of oil shipped from the railroad terminal in Ust’-Kut reached two million tons.
  • Peak production of 14,000 bpd was reached.
  • A new field at Severo-North Mogdinsky license block was discovered and cleped after Boris Sinyavsky.
  • The first stage of the Gas Cycling Facility at the Yaraktinsky field was launched, which became the first project of its kind in Russia.
  • Several gas monetization projects were avidly researched.
  • Two new fields within Angaro-Ilimsky and Naryaginsky license blocks, were discovered
  • The construction of a pipeline to ESPO began.

First -Million Tons of Oil (2009)

Добыта миллионная тонна нефти (2009)
  • The Multilateral Carbon Credit Fund agreed to buy carbon credits from a subsidiary of Irkutsk Oil.
  • A Memorandum of Understanding was signed between Sumitomo Corporation and Irkutsk Oil Company.
  • Transneft granted Irkutsk Oil access to its ESPO trunk pipeline.
  • The Russian Government approved four core Irkutsk Oil fields for preferential export duty.
  • Marina Sedykh was recognized with EBRD’s ‘Women in Business’ award.
  • Cumulative production of oil and condensate reached 1 million tons.
  • The Company signed an agreement with JOGMEC to develop two license blocks: Bolshetirsky and West Yaraktinsky. JSC “INK-Zapad”, a new joint venture, was established solely for the block development.
  • The first stage of the Oil Treatment Facility at Yaraktinsky field was commissioned.
  • EBRD provided the Company with a 90 million euro loan for boosting production and developing infrastructure.
  • A Memorandum of Understanding was signed with JOGMEC for a collaborative study on the applicability of the Japan-GTL process to Irkutsk Oil’s natural gas resources.

New Shareholder (2008)

ЕБРР — новый акционер ИНК (2008)
  • 8.15% stake was acquired by the European Bank for Reconstruction and Development (EBRD).
  • West-Ayansky field was discovered.
  • The Company began insuring most of its risks under the comprehensive energy package insurance.

Partnership with Japan (2007)

Начало сотрудничества с японскими компаниями (2007)
  • Irkutsk Oil Company signed Memorandum of Understanding with RUSAL.
  • The pipeline between Markovsky field and the railroad terminal in the city of Ust’-Kut was completed, which became the first oil pipeline in the region.
  • JSC “INK-Sever” was established with Japanese JOGMEC for exploration of the North Mogdinsky block.
  • A social and economic partnership agreement with the Government of Irkutsk region was signed.

Growing the Resource Base (2006)

Расширение ресурсной базы (2006)
  • DeGolyer & MacNoughton began the first audit of Irkutsk Oil’s reserves.
  • Irkutsk Oil Company signed a Memorandum of Understanding with Gazprom to supply natural gas from Markovsky and Ayansky fields.
  • A Group’s subsidiary, INK-NefteGasGeologia, acquired Potapovsky, Bolshetirsky, West Yaraktinsky, Angaro-Ilimsky and Naryaginsky license blocks.
  • The company began preparing its financial statements under IFRS.

In-house Drilling Company (2005)

Собственная буровая компания (2005)
  • A Group’s subsidiary, INK-NefteGasGeologia acquired Ayansky field and Ayansky license block at a state-run auction.
  • INK created its own full-service oil field unit, INK-SERVICE.
  • OJSC «SNGK» (Siberian Oil and Gas Company), operating Naryaginsky and Angaro-Ilimsky fields, was acquired.

First Profit (2004)

ИНК получила первую прибыль (2004)
  • Some 134,000 tons of oil and condensate were produced.
  • In June, the company made its first profit.

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