Company News
INK takes part in rating of best employers by HeadHunter
Irkutsk Oil Company (INK) is participating in the rating of the best employers in Russia according to HeadHunter. In 2023, INK appeared among the top 5 employers in the fuel and energy sector.
INK specialists – among the best at national professional excellence contest
Specialists of Irkutsk Oil Company (INK) were recognized among the best at the All-Russian Professional Excellence Contest “The Best Professional” in the category Best Electrician for Relay Protection and Automation.
Marina Sedykh: Environmental wellbeing of regions warrants joint action of major companies
At the Eurasian Women’s Forum held in Saint Petersburg, Ms. Sedykh spoke about the contribution of Irkutsk Oil Company to bringing the sustainable development agenda to life. She delivered a speech at the session “Women and Ecology: New Development Horizons.”
BRIF Youth Day to be held in Irkutsk on October 4
The Youth Day of the VIII Baikal Risk Forum (BRIF’24) will take place on October 4 in Irkutsk. Around 300 young professionals from all over Russia have already registered for the event.
First visiting session of Baikal Risk Forum to be held in Ust-Kut
The first visiting session of the Baikal Risk Forum will be held on September 30 in Ust-Kut town. In Irkutsk, the VIII International Baikal Risk Forum (BRIF’24) organized by INK will take place on October 1-4.
Participants of business administration program of Moscow State University had internship in INK
Participants of the business administration program (МВА) of the economic faculty of Moscow State University have had an internship in Irkutsk Oil Company (INK).
INK signed partnership agreement with regional ministry for youth policy
Irkutsk Oil Company (INK) signed a tripartite partnership agreement with the Ministry for Youth Policy of the Irkutsk Region and the Center of Social and Information Services for the Youth.
More than a thousand INK employees to complete training in engineering schools
More than 1,000 employees of Irkutsk Oil Company (INK) will complete training in the corporate engineering schools as part of a program aimed at preparing highly qualified specialists for the company.
Stars on Baikal festival to be held September 2-18 in Irkutsk with INK’s support
The XIX International Music Festival “Stars on Baikal” directed by Denis Matsuev will be held on September 2-18 in Irkutsk. As a tradition, Irkutsk Oil Company (INK) will be the general partner of the event.
INK to hold public hearing regarding facility subject to state environmental review in Mirninsky district
Sakhaneft LLC (member of the INK Group) is going to hold a public hearing regarding the facility “Pipeline from the OTF of the Machchobinsky OGCF to the tie-in point of the pipeline to the hydrocarbons storage tank farm of the Machchobinsky OGCF”, including the relevant preliminary EIA materials, which is subject to the state environmental expert review.
Master plan of development of Ust-Kutsky district united 150 projects and initiatives
The director of Federal Autonomous Research Institute Vostokgosplan Mikhail Kuznetsov spoke on this in the interview to Vedomosti held with the participation of Iakov Ginzburg, INK General Director, chairman of the Executive Board.
INK received yearly award Russia’s Best ESG Projects
Irkutsk Oil Company (INK) has received the yearly award ‘Russia’s Best ESG Projects’.
“Northern Troopers” festival to be held in Irkutsk Region with support from INK and Fund of Marina Sedykh
“Northern Troopers” festival to be held in Irkutsk Region with support from INK and Fund of Marina Sedykh.
Over 1,300 people took part in Reading Day across Irkutsk Region
The summer season of the Reading Day festival has been closed in the Irkutsk Region. Traditionally, Irkutsk Oil Company (INK) has supported the event as the general partner.
Baikal Risk Forum’24 to be held on October 1 - 4 in Irkutsk
The VIII International Baikal Risk Forum (BRIF’24) will be held on October 1 - 4 in Irkutsk, focusing on efficient business management in the times of changes.
INK-Capital signed trilateral agreement for bone marrow donorship promotion
INK-Capital signed a trilateral agreement for promotion of bone marrow donorship in the Irkutsk Region with effect until end of 2025.
Charity Fund of Marina Sedykh runs talent contest for children and youth in Ust-Kutsky district
The Charity Fund of Marina Sedykh announced a talent contest for children and young adults living in the Ust-Kutsky district. Winners will be able to take part in a national artistic contest.
INK supported “Emergency Call” program of Children's Fund
Irkutsk Oil Company (INK) signed a donation agreement with the Children’s Fund of the Irkutsk Region as part of the long-term cooperation.
INK and Fund of Marina Sedykh launched health program for Baikal-Amur Railway veterans
Irkutsk Oil Company (INK) and the Charity Fund of Marina Sedykh started a healthcare program for the veterans of the Baikal-Amur Railway living in Ust-Kut. More than 100 people will receive restorative treatment in the “Angara” recreation resort in Irkutsk.
INK – regional partner of international Remembrance Garden campaign
Employees of Irkutsk Oil Company (INK) took part in the international Remembrance Garden campaign to pay homage to those fallen in the Great Patriotic War. INK also became the regional partner.
Ivano-Matryoninskaya Hospital doctors examined 147 children in Nizhneilimsky district with support of Marina Sedykh fund
<p> The Ivano-Matryoninskaya Children’s Hospital doctors examined 147 children in the Nizhneilimsky district with the support of the charity fund of Marina Sedykh. </p>
Science Days festival attracted more than 1,300 visitors in Irkutsk, Ust-Kut, and Zheleznogorsk
The festival activities were held in Irkutsk, Ust-Kut, and Zheleznogorsk-Ilimsky, with more than 1,300 people attending. The main sponsor of the event is Irkutsk Oil Company (INK).
Utair airlines completed first flight from Irkutsk to Ust-Kut under agreements with Irkutsk Region Government and INK
Utair air carrier has started to operate direct return flights between Irkutsk and Ust-Kut on a daily basis, with the first flight completed on April 1.
More than 500 people visited Reading Day festival in Kirensky district
In the Kirensky district, more than 500 children and adults took part in the Reading Day. Irkutsk Oil Company (INK) traditionally supports event as the main sponsor.
Science Days festival to be held in Ust-Kut with INK’s support
On March 26-31, Ust-Kut will host the Science Days festival, with Irkutsk Oil Company (INK) as the prime sponsor. The program includes 30 events.
INK opens grant contest District of My Dream – 2024
Irkutsk Oil Company (INK) has started receiving entries from participants of the grant contest The District of My Dream – 2024 in the Ust-Kutsky and Katangsky districts.
Reading Day to be held in Irkutsk and Kirensky district with INK’s support
The Reading Day event will be held in Irkutsk and the Kirensky district on March 19-23 with Irkutsk Oil Company (INK) as the main sponsor.
Collection of grant contest winning projects published by INK
Irkutsk Oil Company (INK) issued a collection book listing the winning projects to mark the fifth anniversary of its grant contest “The Energy of Native Land”.
Entrepreneurs’ forum held in Ust-Kut with INK’s support
A forum called “Conducting business in high-potential localities: From concept to implementation” was held for entrepreneurs in Ust-Kut town. The event was organized by Sber in conjunction with Irkutsk Oil Company (INK) and My Business Center.
INK to hold public hearing regarding facility subject to state environmental review in Ust-Kutsky district
Irkutsk Oil Company (INK) is going to hold a public hearing regarding the facility “Gas pipeline from well pad 230 (well 948) to the complex gas processing facility of the Yaraktinsky OGCF”, including the relevant preliminary EIA materials, which is subject to the state environmental expert review.
INK to hold public hearing regarding facility subject to state environmental review in Kirensky district
Irkutsk Oil Company (INK) is going to hold a public hearing regarding the facility “Oil and gas pipeline from well pad 95 to the tie-in point of well pad 95 of the Zapadno-Ayansky OGCF”, including the relevant preliminary EIA materials, which is subject to the state environmental expert review.
INK placed time capsule in the first apartment block of new residential complex in Ust-Kut
Irkutsk Oil Company (INK) held a ceremony of placing a time capsule in the foundation of the first apartment block of the new residential complex under construction in Ust-Kut town for employees of the Irkutsk Polymer Plant.
Over 850 thousand roubles raised for children at concerts organized by Fund of Marina Sedykh
Charitable concerts were held in Ust-Kut and Zheleznogorsk-Ilimsky on the occasion of the 10th anniversary of the Fund of Marina Sedykh raising over 850 thousand roubles. The funds will be used to provide support to children with disabilities.
INK donated diesel generator to school in Katangsky district
Irkutsk Oil Company (INK) has donated a diesel generator unit to the Katangsky district of the Irkutsk Region. The equipment has been delivered to the general secondary school of Nepa village.
Authors of master plan for Ust-Kutsky district development launched project website
There is now a website dedicated to the master plan of socio-economic development of the Ust-Kut municipality.
Expert RA assigned high ESG rating to JSC INK-Capital
Expert RA rating agency assigned JSC INK-Capital an ESG rating of ESG-III(a).
INK to hold public hearing regarding facility subject to state environmental review in Katangsky district
INK is going to hold a public hearing regarding a Danilovsky field facility subject to the state environmental expert review and the related preliminary EIA materials.
Ust-Kutsky municipality administration, INK and Vostokgosplan agreed to draft master plan for Ust-Kutsky district
Irkutsk Oil Company (INK) has signed an agreement to develop and implement a master plan for the Ust-Kutsky district with the administration of the Ust-Kutsky municipality and Federal Autonomous Research Institution Eastern State Planning Center (Vostokgosplan).
INK-Capital completed field biodiversity study in two subsoil blocks
JSC INK-Capital has completed its biodiversity study in the Yaraktinsky and Zapadno-Yaraktinksy blocks.
Marina Sedykh: To develop new production sectors, state support needed in modernization of Ust-Kut airport and Viluy federal road
The 2nd Business Forum is held on November 15-17 in Moscow, where representatives of the authorities, academia and business are discussing issues related to the development of sub-regions of Siberia and the Far East.
INK signed a cooperation agreement with association of municipalities of Irkutsk Region
<p> Irkutsk Oil Company (INK) has executed a cooperation agreement with the association of municipalities of the Irkutsk Region. </p>
Evenk ethnographic park opened in Yerbogachyon with INK’s support
The ethnographic complex “Urikit” has opened in Yerbogachyon village, Irkutsk Region, with grant support from Irkutsk Oil Company (INK).
INK first ranked among Corporate Philanthropy Leaders
Irkutsk Oil Company (INK) appeared in the rating “Corporate Philanthropy Leaders”.
Ivano-Matryoninskaya hospital doctors examined around 800 children in Ust-Kut and Verkhnemarkovo with support from Marina Sedykh Fund
Specialists of Ivano-Matryoninskaya children’s hospital conducted some 800 health checks for children living in Ust-Kut town and Verkhnemarkovo village.
Rating Agency Expert RA has raised JSC INK-Capital credit rating to ruAА-
The rating agency Expert RA has improved its assessment of the creditworthiness of JSC INK-Capital and raised the credit rating of its 001Р-01 series bonds to ruAА- from ruA+.
INK opens grant contest The Energy of Native Land for entries
Irkutsk Oil Company (INK) has started to accept entries in the yearly grant contest The Energy of Native Land. Entries may be submitted until December 5, 2023.
Public hearing to be held in Ust-Kut on INK’s facility in Ichyodinsky field
INK will hold a public discussion on the state environmental expert review, including the preliminary materials for the environmental impact assessment of the facility located in the Ichyodinsky field.
Public hearing to be held in Katangsky District on INK’s Danilovsky field facility
INK will hold a public hearing on a facility of the Danilovsky field subject to the state environmental expert review, including preliminary EIA materials.
Marina Sedykh: INK is developing a climate strategy to reduce direct greenhouse gas emissions
Irkutsk Oil Company (INK) will reduce its direct greenhouse gas emissions as part of implementation of the sustainable development strategy. JSC INK-Capital General Director Ms. Sedykh gave a talk on the topic at the Baikal International Youth Forum.
INK-Capital: “PRO North Youth” grant contest now open
JSC INK-Capital announces the opening of the grant contest “PRO North Youth” for citizens of the Russian Federation aged 18-35.
“Northern Troopers” festival sponsored by INK to be held in Irkutsk Region from June 17 to July 3
The cultural event will start on June 17 in Kirensk and end on July 3 in Irkutsk. Irkutsk Oil Company has been supporting the festival for nine years now as the general sponsor.
The Baikal Risk Forum-2023 to be held in October in Irkutsk
The VII International Baikal Risk Forum (BRIF’23) is scheduled for October 2-6. This year, the organizers and participants are looking into two essential aspects of sustainable development – industrial ecology and social partnership.
International festival “The Baikal Talisman” to be held on June 1-10 in Irkutsk with INK’s support
The II International Theatre Festival “The Baikal Talisman” will be held on June 1-10 in Irkutsk, with Irkutsk Oil Company as a partner.
The Reading Day to be held in Irkutsk on June 2-3 with INK’s support
Irkutsk Oil Company (INK) will be the general sponsor of the reading festival to be held in Irkutsk city on June 2-3.
INK has selected the winners of its grant competition The District of My Dream – 2023
Irkutsk Oil Company (INK) has decided on the results of the grant competition The District of My Dream – 2023: six projects in Ust-Kut, the Ust-Kutsky and Katangsky districts will receive funding.
Ten thousand people have written the Baikal Environmental Dictation in Russia
Around 10 thousand citizens representing 21 regions of Russia took part in the III Baikal Environmental Dictation. Irkutsk Oil Company (INK) traditionally became the general sponsor of the event.
INK raised over 8 million RUB for Ivano-Matryoninskaya hospital to procure equipment
Irkutsk Oil Company (INK) and the charity fund of Marina Sedykh have helped the children’s hospital to purchase equipment for the traumatology unit.
Marina Sedykh: Environment is the Company’s focus point when implementing new projects
JSC INK-Capital General Director Ms. Sedykh took part in the 6th international youth applied research forum “The Oil Capital” held in Nizhnevartovsk (Khanty-Mansiysk autonomous district).
Preparations for 7th International Baikal Risk Forum underway in Irkutsk Region
Preparations for the 7th International Baikal Risk Forum (BRIF) have started in the Irkutsk Region, with JSC “INK-Capital” as the host and LLC Irkutsk Oil Company as the general partner.
INK discussed Lena River health monitoring findings
Irkutsk State University (ISU) researchers, leaders of regional non-profit environmental organizations and Irkutsk Oil Company (INK) representatives discussed efforts to preserve Lena River.
Winners in the grant competition The Energy of Native Land-2022 selected by INK
Irkutsk Oil Company has announced the results of the fourth grant competition The Energy of Native Land-2022. Twelve projects of social importance will be implemented in the Ust-Kut, Kirensky, Katangsky and Nizhneilimsky districts.
INK first appeared on the ESG ranking by Expert magazine
Irkutsk Oil Company has been included in the sustainable development ranking compiled by the leading business paper Expert for the first time, coming 53rd among 100 Russian companies.
Marina Sedykh: Ust-Kut should become a stronghold of regional development
JSC INK-Capital General Director Marina Sedykh appeared at the regional council of the Irkutsk Region. The meeting chaired by the Governor of the Irkutsk Region Igor Kobzev was held on November 2 in Ust-Kut town.
INK Group is one of the leaders of the first national ESG rating
The first national ESG ranking put JSC INK-Capital among the leading 35 Russian companies. The participants’ ESG profiles – environmental, social, and governance activities – were assessed by experts.
INK calls partners to take part in the Environmental Culture and Social Responsibility contest
Irkutsk Oil Company is holding the contest in Environmental Culture and Social Responsibility for its contractor companies. Participants’ applications will be accepted until October 28, 2022.
“PRO North Youth” contest winners announced
JSC INK-Capital has identified the winners of the contest for the best projects for development of the North of the Irkutsk Region. Three winning projects were selected on the Youth Day of the sixth International Baikal Risk Forum (IBRF).
INK-Capital announces the “PRO North Youth” contest
Citizens of the Russian Federation aged 18-35 are welcome to apply. Entries will be accepted until August 31, 2022.
Public hearings on draft terms of reference for EIA of INK’s facilities in the Ichyodinsky field to be held in Ust-Kut
Irkutsk Oil Company is bringing draft terms of reference for EIA of two facilities located in the Ichyodinsky field (Verkhnetirsky subsoil block) to public hearing.
Environmental professionals visited Irkutsk Polymer Plant in Ust-Kut
Chairperson of the Irkutsk branch of the All-Russian Society of Nature Conservation Vera Shlyonova, head of Environmental awareness promotion department of the Federal State Institution “Baikal Conservation Area” Svetlana Dobrynina, and chairperson of the Irkutsk region branch of the Russian Geographical Society, chief scientific officer of the Geography Institute of the Siberian branch of the Russian Academy of Sciences Leonid Korytnyi came to see the Irkutsk Polymer Plant site (INK’s project).
INK to support a project by the Russian Geographical Society in Ust-Kut
Irkutsk Oil Company will provide a grant to a project by the Russian Geographical Society (RGS) implemented in Ust-Kut town.
Baikal Risk Forum-2022 to be held on September 12-16 in Irkutsk
The sixth International Baikal Risk Forum (IBRF) will be held on September 12-16 in Irkutsk. JSC INK-Capital is the host of the forum, and LLC Irkutsk Oil Company (INK) is the general partner. The forum will also be supported by the governor of the Irkutsk Region Igor Kobzev and the regional administration.
INK’s museum became an awardee in the countrywide contest
The corporate museum of Irkutsk Oil Company (INK) became a prizewinner in the fourth All-Russian Corporate Museums Contest.
Irkutsk Region ombudsperson: Irkutsk Polymer Plant means new jobs opportunities in Ust-Kut
Irkutsk Region ombudsperson Svetlana Semyonova had a working trip to Ust-Kut town on May 23-24. Having visited LLC Irkutsk Polymer Plant (a project implemented by Irkutsk Oil Company), the ombudsperson noted a special importance of the project to the local community and attracting young professionals.
Exhibition dedicated to oil production opened in Irkutsk with INK’s support
Molchanov-Sibirsky Irkutsk Regional Library is hosting the exhibition “Discovering Easter Siberian Salt and Oil” supported by Irkutsk Oil Company.
Stars on Baikal festival was hosted in Irkutsk with INK’s support
The 16th international festival Stars on Baikal was held in Irkutsk from April 29 to May 5, with Irkutsk Oil Company as the general partner.
Russian Supervisory Authority for Environment Protection (Rosprirodnadzor) Issued a Positive Review on INK Gas Fractionation Plant in Ust-Kut
The inter-regional department of Rosprirodnadzor for Irkutsk region and Baikal natural territory issued a positive review of the state ecological expert review for the facility "Ust-Kut Gas Fractionation Plant. Stage 2" (part of Ust-Kut Gas Processing Plant).
INK Held a Safety Forum with Contractors
Irkutsk Oil Company held a quarterly safety forum with representatives from contractors. The participants discussed innovations in the Labor Code of the Russian Federation and other regulatory documents in the field of occupational safety.
Students Associated with the ‘INK Corporate Group’ at Irkutsk State National Research University Received an Additional Scholarship
Irkutsk Oil Company began sponsoring additional scholarships for students at Irkutsk State National Research University. The monthly monetary support would be 5,000 rubles.
INK-Class school students visited Irkutsk Polymer Plant
A tour to the construction site of Irkutsk Polymer Plant (a project of the Irkutsk Oil Company) was given to more than 25 students of INK-Class.
INK Received the Status of BIM Leader-2022
Irkutsk Oil Company has confirmed its status as a BIM leader according to Autodesk. This is the third time INK has received the prestigious award.
INK Entered into a Cooperation Agreement with the All-Russian Society for Nature Conservation
Irkutsk Oil Company signed a cooperation agreement with the Irkutsk branch of the AllRussian Public Organization: All-Russian Society for Nature Conservation.
Irkutsk Polymer Plant has inventoried greenhouse gas emissions in 2021
In line with the best practices for oil and gas projects, Irkutsk Polymer Plant has quantified GHG emissions for the construction stage including the activities of all construction contractors. The bulk of GHG emissions were due to energy consumption in power and heat supply to production and associated facilities, specifically, in diesel and petrol combustion at diesel power stations, in heat generators, combustion engines in passenger and utility vehicles, and consumption of electricity supplied externally via the grids of the Irkutsk Region.
Marina Sedykh’s Charitable Foundation supported more than 320 residents of Ust-Kut in rehabilitation after COVID-19
The charitable foundation of Marina Sedykh, General Director of JSC INK-Capital (the holding structure of Irkutsk Oil Company), organized rehabilitation treatment for more than 320 residents of Ust-Kut district who had suffered from the coronavirus infection since December 2020. In March, 25 more people will undergo rehabilitation.
INK has discussed the program of cooperation with representatives of the Association of Indigenous People
Irkutsk Oil Company discussed the program of cooperation with representatives of the Association of Indigenous Minorities of Northern and Eastern Siberia.
Irkutsk Polymer Plant hired 422 employees in 2021
Irkutsk Polymer Plant (a project of Irkutsk Oil Company) hired 422 new employees in 2021. The plant currently employs 592 people.
Marina Sedykh Took Shared Her Expertise at the Irkutsk State University’s Discussion on Sustainable Development
The General Director of JSC INK-Capital (the holding structure of Irkutsk Oil Company) participated as an expert in the discussion: “Sustainable Development and ESG Principles.” The event was organized by the Baikal International Business School of Irkutsk State University.
Irkutsk Oil Company Hired 3,700 Employees in 2021
INK Group hired total of 3,700 new employees in 2021. At present, the total number of employees is more than 11,000, most of whom are residents of Irkutsk region.
Irkutsk Oil Company Has Approved a Program to Preserve the Traditional Way of Life of Indigenous Peoples
Irkutsk Oil Company has approved the program for preserving the traditional way of life of the indigenous minorities of the North in the territories of its presence for 2022–2026.
Irkutsk Polymer Plant Has Started the Active Phase of the Installation of Steel Structures and Pipelines
Irkutsk Polymer Plant started an active phase of installation of steel structures and pipelines to ensure the readiness of priority facilities in accordance with the project schedule.
Irkutsk Oil Company Has Drilled the Longest Horizontal Borehole in the Company's History
Irkutsk Oil Company has drilled the longest horizontal borehole of 2,065 meters. This is the longest horizontal section in the history of the company in 21 years.
Irkutsk Oil Company invested over 85 Billion Rubles in Irkutsk Polymer Plant as of December 31, 2021
The construction of Irkutsk Polymer Plant (IPP) as of December 31, 2021, was financed for 85 billion roubles. The total cost of the project including the construction of the housing district in Ust-Kut which is estimated at 300 billion roubles.
SberStrakhovanie, Ingosstrakh, and Rosgosstrakh Insured the Construction of Irkutsk Polymer Plant for 203.6 Billion Rubles
SberStrakhovanie, a subsidiary of Sber, together with Ingosstrakh and Rosgosstrakh have entered into an agreement to insure the construction of Irkutsk Polymer Plant.
Debut Bonds of JSC INK-Capital are Enlisted in the Sustainable Development Sector of the Moscow Stock Exchange
On December 30, 2021, the Moscow Exchange included the debut issue of the transition bonds of JSC INK-Capital (the holding company of OOO Irkutsk Oil Company) in the segment of national and adaptation projects of the sustainable development sector. Thus, the first adaptation bonds in the history of the Russian stock market also became the first to be included in the relevant segment of the exchange.
INK has obtained a USD 871 million Buyer’s Credit from international banks supporting purchase of equipment for Irkutsk Polymer Plant
The Japan Bank for International Cooperation (JBIC) and Irkutsk Oil Company LLC (INK) have signed a buyer's credit agreement to finance the purchase of equipment for ethylene and polyethylene production of Irkutsk Polymer Plant LLC (a Project of Irkutsk Oil Company).
The Most Technically Advanced Paediatric Operating Room in Siberia and the Far East Has Opened its Doors in Irkutsk
Irkutsk State Regional Children’s Clinical Hospital opened a high-tech digital operating room — the most modern in the Siberian and Far Eastern Federal Districts.
JSC ‘INK-Capital’ issued its first bonds – also the first adaptation bonds issue in Russia
JSC INK-Capital (the holding company of INK) placed its adaptation bonds on the Moscow Stock Exchange on December 17, 2021. The INK-Capital’s adaptation bonds are the first in the Russian stock market history. The issuance is regulated by the Resolution of the Government of the RF #1578 dated September 21, 2021. The funds raised will be used to partially reimburse the costs of the associated gas re-injection (the cycling process) project, which has been underway since 2010. The implementation of this project has resulted in the reduction of greenhouse gas emissions.
Irkutsk Polymer Plant Completes the First Stage of Silos Installation Work
The first stage of silos installation has been completed at the construction site of Irkutsk Polymer Plant (a project of Irkutsk Oil Company) in Ust-Kut. The silos are designed as intermediate containers for holding polyethylene powder and pellets, which are used to start the polymerization reactor.
Sergey Donskoy, a Member of the Board of Directors of Irkutsk Oil Company, is Elected as Chairman of Board at Assoneft
Sergey Donskoy, a member of the Board of Directors of Joint Stock Company ‘INK-Capital’ (the holding structure of Irkutsk Oil Company), has been elected Chairman of Board of Assoneft. The 24th annual general meeting of the authorized representatives of the companies of the Association of Independent Oil and Gas Production Organizations, “Assoneft,” was held on-line on December 8, 2021.
Irkutsk Oil Company to Start Installation of Equipment at the 220 kV Polymer substation in Ust-Kut in January 2022
Irkutsk Oil Company will start installing the main equipment at the 220 kV Polymer substation as a part of construction the second stage of the power supply facility in January 2022. Start-up of the second stage of the substation will make it possible to fully provide with power the production facilities of the gas chemical cluster in Ust-Kut.
Yugra Governor Natalya Komarova and Irkutsk Oil Company founder Marina Sedykh discuss sustainability issues
Natalia Komarova, Governor of Khanty-Mansiysk Autonomous District, and Marina Sedykh, General Director of INK-Capital (the holding structure of Irkutsk Oil Company) took part in a working meeting held in Khanty-Mansiysk. The parties discussed issues of sustainable development in the field of carbon neutrality, the possibility of using successful practices of the region.
Risk analysis project of the large scale equipment delivery for the Irkutsk Polymer Plant won an international award
The project on risk analysis of large-scale cargo delivery for the Irkutsk Polymer Plant won a gold award at the international contest at Facilitation Impact Awards 2021. More than 20 organizations contested for the award this year.
100 thousand cubic meters of concrete poured at the construction site of the Irkutsk Polymer Plant
На строительной площадке ООО «Иркутский завод полимеров» (проект ООО «Иркутская нефтяная компания») залили 100 тыс. куб. м бетона. Это рекордный показатель за историю компании.
Sber’s delegation visited construction site of Irkutsk Polymer Plant and other facilities in Ust-Kut
During a one-day trip on October 19th, 2021, a high-ranked delegation of Sberbank visited the construction site of the Irkutsk Polymer Plant and other facilities. Among the facilities visited was the Ust-Kut Gas Processing Plant, LPG terminal, Storage and Shipment Complex, as well as the construction site of the future residential area for employees.
Large-sized equipment weighing over 60 tons has been delivered from Philadelphia to Bratsk by the world’s largest cargo plane
Representatives of Irkutsk Oil Company helped upload two pieces of state-of-art technological equipment from the United States on an An-124 “Ruslan” cargo transport aircraft.
Marina Sedykh took part in the Eurasian Forum
Marina Sedykh, General Director of INK-Capital JSC spoke at the Eurasian Forum at the session “Women Protecting the Planet: Building our Future”. The event took place in Saint-Petersburg on 13–15 of October.
Irkutsk Polymer Plant completes installation of large-capacity equipment
Irkutsk Polymer Plant installed the last unit of some large-size heavy equipment — Product Purge Bin. A total of 44 units have been installed at the construction site, which were previously delivered to Ust-Kut in the fall of 2020 from a port in South Korea.
Irkutsk Oil Company and the Ministry of Energy of the Russian Federation signed an agreement on cooperation on sustainable development
INK-Capital (the holding structure of the Irkutsk Oil Company) and the federal state budgetary organization Russian Energy Agency of the Ministry of Energy of the Russian Federation concluded an agreement on cooperation in the field of sustainable development and ESG practices. The contract was concluded within the framework of the 5th Baikal Risk Forum, which took place in Irkutsk from September 22 to 24.
Irkutsk Oil Company launches third Bentec HR-5000 drilling rig at the West Ayansky field
Irkutsk Oil Company has put into operation the third automated fixed-echelon Bentec HR 5000 drilling rig facility. The rig will be firstly utilized at the West-Ayansky licensed block. After three days of pre-commissioning, the equipment is operating in normal mode.
GlavGosExpertiza approved Irkutsk Oil Company’s project for the construction of oil and gas pipeline at the Ichyodinsky field
The state agency, GlavGosExpertiza, reviewed the project documentation and results of the engineering surveys for construction of oil and gas intra-field pipeline at the Ichyodinsky field in the Irkutsk Region. As a result, the project of Irkutsk Oil Company was approved.
Igor Kobzev: Irkutsk Polymer Plant Will Boost the Development of Ust-Kut District
A delegation of the government of the Irkutsk Region, headed by the Governor, Mr. Igor Kobzev, visited the construction site of the Irkutsk Polymer Plant in Ust-Kut. The group included Mr. Yakov Ginzburg, General Director of Irkutsk Oil Company, Russian Senator Mr. Andrey Chernyshev, State Duma deputy Mr. Alexander Yakubovsky, and representatives of regional authorities.
An improvement project in Ust-Kut, financed by Irkutsk Oil Company and the Russian Forest Association won a grant from the Ministry of Russia
Irkutsk Oil Company, in cooperation with the Russian Forest Association, financed the project for the improvement of the new urban centre “Rechniki” in Ust-Kut. The concept was recognized as one of the best in the All-Russian competition of projects to create a comfortable urban environment, which is held by the Ministry of Construction, Housing and Utilities of the Russian Federation on behalf of the President.
A heavy Purge Bin is installed at the Irkutsk Polymer Plant
Irkutsk Polymer Plant installed the last unit of large-size heavy equipment — Product Purge Bin — in September 2021. The weight of the unit is about 500 tons.
Irkutsk Oil Company Group successfully passes audit of its integrated management systems
In August, INK Group successfully passed another audit of its integrated management systems (IMS). INK subsidiaries, including INK-SERVICE, ToT, and INK-Zapad, were also audited.
On October 20–22, OOO Irkutsk Oil Company would be holding a Scientific and Technical Conference
OOO Irkutsk Oil Company will hold the VI Scientific and Technical Conference (STC). The event is aimed at innovations in the oil and gas industry. It will be attended by OOO Irkutsk Oil Company employees and students of Russian universities.
OOO Irkutsk Oil Company approved the architectural concept of a new microdistrict in Ust-Kut
OOO Irkutsk Oil Company approved the concept of a new microdistrict developed by architects from Irkutsk and St. Petersburg. The construction of a residential area with a developed infrastructure will provide comfortable living conditions for employees of the Irkutsk Polymer Plant.
Polymerisation reactor is installed at Irkutsk Polymer Plant
The heaviest piece of equipment - polymerisation reactor is installed at Irkutsk Polymer Plant. The unit weighs 538 tons, is 44.5 metres high and is 9.6 metres in diameter.
Commissioning operations have started at the Ust-Kut Gas Processing Plant
Irkutsk Oil Company begins commissioning operations at the Ust-Kut gas processing plant (GPP).
Student brigades participate in the construction of the OOO “Irkutsk Polymer Plant”
OOO “Irkutsk Polymer Plant” (IPP, a project of OOO “Irkutsk Oil Company”) hired 20 people from the student construction brigade for the construction of facilities.
On July 23 in Ust-Kut, a new medical facility, funded by the Irkutsk Oil Company, is set to open
In Ust-Kut, as of July 23, 2021, patients will be accepted in a new medical building, largely financed by the Irkutsk Oil Company. The decision to open the facility was made by the operational headquarters of the Ust-Kut Municipal Administration.
Irkutsk Oil Company released 400 thousand young grayling into the River Lena
As part of the annual fish breeding initiative, the Irkutsk Oil Company released approx. 400 thousand young grayling into the River Lena (Ust-Kut, Irkutsk Region).
Irkutsk Oil Company, JOGMEC, TOYO and ITOCHU are set to develop the second stage of a feasibility study to secure the production of ‘blue’ ammonia in Eastern Siberia
The Irkutsk Oil Company, Japan Oil, Gas and Metals National Corporation (JOGMEC), Toyo Engineering Corporation (Japan), and the ITOCHU Corporation (Japan) will co-operate on the second stage of the feasibility study, aimed at securing the production of ‘blue’ ammonia in Eastern Siberia and its supply to Japan. The first stage of the feasibility study was completed last year.
Irkutsk Oil Company has put the second highly automated drilling rig at the Bolshetirsky site into operation
Irkutsk Oil Company has put the second highly automated fixed-echelon Bentec HR 5000 drilling rig facility, at the Bolshetirsky licensed block, into operation.
Irkutsk Polymer Plant Has Started the Installation of Large-size Equipment
OOO Irkutsk Polymer Plant (IPP, a project of OOO Irkutsk Oil Company) completed the installation of the first of 45 units of heavy large-sized equipment — a 54.6 m high and 271.5-ton quench water column for the integrated pyrolysis plant.
OOO “Irkutsk Oil Company” commissions highly automated Bentec HR-5000 drilling rig at Bolshetirsky site
OOO “Irkutsk Oil Company” has commissioned the highly automated fixed-echelon Bentec HR 5000 drilling rig at the Bolshetirsky license block. The equipment was custom-designed for the company for operation in conditions in Eastern Siberia. Bentec signed a contract to deliver seven new Russian-made drilling rigs in 2019.
OOO “Irkutsk Oil Company” to allocate 80 million rubles for social projects in Irkutsk Region in 2021
OOO “Irkutsk Oil Company” and the administration of Irkutsk Region have signed a socio-economic partnership agreement for 2021. The social aid to various areas of the region will be worth 80 million rubles combined.
OOO “Irkutsk Oil Company” attends subsoil users’ meeting in Yakutia
Representatives of OOO “Irkutsk Oil Company” attended a meeting on the implementation of environmental protection measures by subsoil users and reducing the environmental impact in the Mirninsky district of the Republic of Sakha (Yakutia). The meeting was chaired by Sakhamin Afanasyev, Minister of Environment, Nature Management and Forestry of the Republic of Sakha (Yakutia).
OOO “Irkutsk Oil Company” launches first solar-powered well
OOO “Irkutsk Oil Company” has unveiled the first solar-powered well. A linear telemechanics system, powered by renewable energy sources — solar batteries — was installed at one of the cluster pads of the Yaraktinskoe oil and gas condensate field. There are ten units.
French company SUEZ to supply wastewater treatment equipment for Irkutsk Polymer Plant
French company SUEZ has signed a contract to supply wastewater treatment equipment for the Irkutsk Polymer Plant. OOO “Irkutsk Oil Company”, one of Russia’s largest independent hydrocarbon producers, is building a state-of-the-art plant in Eastern Siberia.
Irkutsk Oil Company was awarded the Badge of Environmental Culture
OOO “Irkutsk Oil Company” was awarded the Badge of Environmental Culture established in the Irkutsk region.
Glavgosexpertiza issued a positive conclusion on the project of the Irkutsk polymer plant
December 23, 2020 Glavgosekspertiza Russia issued a positive conclusion on the design documentation of the Irkutsk Polymer Plant (IPP).
Initiation of Joint Feasibility Study of Ammonia Value Chain between Eastern Siberia and Japan for future blue ammonia introduction
Irkutsk Oil Company (“IOC”), Japan Oil, Gas and Metals National Corporation (“JOGMEC”), Toyo Engineering Corporation (“TOYO”) and Itochu Corporation (“ITOCHU”) will work on a joint feasibility study of blue ammonia value chain between Eastern Siberia and Japan in line with the Memorandum of Understanding signed between IOC and JOGMEC back in July 2020.
OOO “Irkutsk Oil Company” Completed Unloading of Equipment for a Polymer Plant
OOO “Irkutsk Oil Company” completed a large-scale operation to deliver the process equipment from the South Korea to the construction site of Irkutsk Polymer Plant in Ust-Kut.
OOO “Irkutsk Oil Company” Built a Berth to Accept the Polymer Plant Equipment
OOO “Irkutsk Oil Company” built a special berth on the River of Lena to accept the equipment of Irkutsk Polymer Plant (IPP) in Ust-Kut.
INK Introduces New Automatic Data Transfer Technology From Remote Facilities
Irkutsk Oil Company introduces a wireless system for automatic data transfer using LPWAN technology for rapid data collection and remote control of distant oilfield facilities.
Community of Ust-Kut district approved construction of Irkutsk Polymer Plant
The Irkutsk Polymer Plant (IPP) construction project implemented by Irkutsk Oil Company LLC has been approved by community of Ust-Kut district.
Irkutsk Oil Company has supplied a total of 50 million tons of crude oil to the ESPO trunk pipeline
On January 7, 50 million tons of oil from the fields of the INK group were pumped to East Siberia — Pacific Ocean (ESPO) trunk pipeline of PJSC Transneft.
Irkutsk Neonatal Surgery Center received State-of-the-Art Equipment Donated by INK
The Irkutsk Oil Company (INK) procured 17.5 million rubles worth of equipment for the Ivano-Matreninsky Pediatric Clinical Hospital in Irkutsk.
Gazprom and Irkutsk Oil Company will contemplate the joint development project in the Krasnoyarsk Territory
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.
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
Today, within the frameworks of Eastern Economic Forum in Vladivostok LLC Irkutsk Polymer Plant (LLC IPP, 100% subsidiary of Irkutsk Oil Company) and an affiliate of Toyo Engineering Corporation signed the contract for provision of construction management service. The contract was signed by Mr. Donskoy Sergey, Board Member of Irkutsk Oil Company, and Mr. Haruo Nagamatsu, President of Toyo Engineering Corporation.
Irkutsk Oil Company is employing new road construction technology
In late June, specialists of the Road Construction Department of Irkutsk Oil Company started testing Cold-In-Recycling (CIR) technology on old roads.
18th International Festival of Poetry, set in Baikal, funded by INK
From June 16-23, literary panels, with poets and writers, will happen in libraries, Literary Museum after the Anatoly Kobenkov, and at a camp site on the shore of Lake Baikal.
US company Univation Technologies became the licensor for INK Polyethylene Plant
lrkutsk Polymer Plant LLC (IPP LLC, 100% subsidiary of Irkutsk Oil Company, LLC) has selected Univation Technologies’ UNIPOL™ PE Technology for new polyethylene plant to be located in Ust-Kut, lrkutsk region, in the Russian Federation.
Irkutsk Oil Company and Goldman Sachs Discussed Partnership Opportunities
On September 3, 2018 Chairman and COO of Irkutsk Oil Company Nikolay Buynov met Goldman Sachs senior leadership representatives. Meeting took place in London, UK in the regional headquarter of GSI.
INK will financially assist the purchase of endoscopic equipment for the regional oncological dispensary
The Irkutsk Regional Oncological Dispensary will addmodern endoscopic equipment to its faculty, the purchase itself funded, partially, by the Irkutsk Oil Company.
Irkutsk Oil Company and China Pingmei Shenma Energy Chemical Group Signed an Agreement on Joint Gas Processing Project
On July 17 Irkutsk Oil Company (INK) represented by Deputy General Director Mr. Dmitry Levin and China Pingmei Shenma Energy Chemical Group Co., Ltd represented by its Chairman Liang Tesheng signed an agreement on the joint gas processing project. Signing ceremeny took place in Moscow. The document calls for construction of natural gas and associated petroleum gas processing facilities.
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 ranks among top ten environmentally responsible petroleum companies
Irkutsk Oil Company (LLC) ranked nine in environmental responsibility rating of Russian petroleum companies, having demonstrated growth in all assessment criteria.
Irkutsk Children's Hospital gets new equipment with INK's support
A new generation of digital surgical complex OR 1 designed for endosurgery of newborns and infants has been commissioned at Ivano-Matryoninskaya City Children's Hospital (Irkutsk). The cost of equipment manufactured in Germany and its installation amounted to 42 mln.rub., which were donated by Irkutsk Oil Company (INK).
10th anniversary of partnership between INK and JOGMEC - from Moscow to Ichyodinsky
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. The grand ceremony dedicated to the history and future of the project was held in Moscow, and only a few days later, delegations of both companies went on a working trip to Ichyodinsky and Yaraktinsky fields.
INK Contributed 6.7 Billion Rubles, in Taxes, to the Irkutsk Region’s Government in the First Half of 2017
Tax payments of INK and its subsidiaries (collectively, INK Group) to the consolidated budget of the Irkutsk region in the first half of 2017 amounted to 6.7 billion rubles, an almost 150% increase relative to the same period in 2016.
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.
Reserves of Verkhnetirsky Field are approved
The State Committee for Reserves (aka ‘Rosnedra’) approved the initial oil and associated gas reserves of the Verkhnetirsky field on May 19, 2017.
Ramboll Environ evaluates the environmental impact of the Utsk-Kutsk polymer plant
Spanning May 16 to May 19, the polymer plant in city of Ust-Kut expected a lengthy analysis process, one that examined both the environmental and the socioeconomic impact of the facility.
Irkutsk Oil Company will contribute more than 100 million rubles to various social programs in the Irkutsk region
Irkutsk Oil Company has signed an additional agreement based on social and economic cooperation with the Irkutsk regional government of 2017. For the past few years, the Irkutsk Oil Company has been sponsoring various regional programs and events, but this year the donations will exceed100 million rubles. The Group implements major projects in four municipal districts - Ust-Kutsky, Nizhne-Ilimsky, Kirensky, and Katangsky.
Nikolay Buynov spoke at the plenary of the international oil and gas conference CERAWeek
The chairman of Irkutsk Oil Company, Nikolay Buynov, participated in the largest annual industry forum, CERAWeek, held in Houston, the US energy capital. He spoke at the panel on March 7th along with the Minister of Energy of the Russian Federation, Mr. Alexander Novak, and other leaders of the Russian oil industry. Nikolay Buynov presented Irkutsk Oil Company as one of the forerunners in the sector of independent oil-producing companies in Russia.
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 Company Sponsors the Women’s World Bandy Competition
The women’s bandy competition (for women under the age of 17) will be held in 2017 through February 22-26th in Irkutsk and Shelekhov. The Irkutsk Oil Company contributed five million rubles to the competition this year. The company has sponsored the same bandy competition three years ago, but it was for men.
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
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
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
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
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’s team wins the Elena Bulgakova Volleyball Tournament
The Elena Bulgakova Volleyball Tournament, named in honour of the eponymous trainer, took place in Irkutsk during the 13th and 14th of February in the stadium of Irkutsk National Technical Research University (IRNITU). INK organized the event and its team won the men’s competition.
INK Sponsors the Siberian Youth Boxing Championship
INK took the onus of sponsoring the Siberian Youth Boxing Championship, a tournament for aspiring boxers between the ages of 15-16. On February 14th, in sports hall “Trud”, the Championship concluded with the decisive victory of the Irkutsk regional team, which boasted a victory of 4 gold medal, one silver medal, and three bronze medals.
New gas condensate field discovered in Yakutia
Irkutsk Oil Company discovered a new gas condensate field at the Byuksky block in the Republic of Sakha (Yakutia). After a report on the area was examined, the State Committee for Reserves approved results and booked reserves on December 28th, 2015. The field reserves have been estimated to contain up to 13.5 billion cubic meters of gas.
INK’s Official Website Awarded Position in Top 5 Siberian Websites
INK’s official website, www.irkutskoil.ru, landed 2nd place in a competition ranking the best corporate websites of Siberia as of 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.
Dmitry Medvedev officially lauded the Irkutsk Oil Company on the recent start of production from in the Ichyodensky oil field
On November 30th, the Prime Minister of the Russian Federation, Dmitry Medvedev, congratulated INK and its respective partners with the recent launch of Ichyodensky oil field (set in the Ust-Kutsky district of the Irkutsk region), its discovery taking place in 2012.
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).
Two bronze compositions, dedicated to workers of INK, were erected at the entrance of the INK headquarters.
The opening ceremony, accompanying the raising of the bronze sculptures, took place on November 26th, at the entrance of the INK headquarters. The statues were dedicated in honour of the company’s 15th anniversary, and the 10th anniversary of its subsidiary, “INK-Service”.
The title of “Best Oil Company in Eastern Europe” was bestowed upon INK, making it the recipient of the award for the fourth consecutive year
The World Finance award is a testament to INK’s leadership in the Russian oil sector, a reminder that INK’s human talent, innovative approaches, and stable expansion outshines its competition. In 2015, in spirit of the previous statement, INK increased its oil production by 140% (in 9 months), advanced its infrastructural development, and expanded its potential in the oil market.
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.
The Museum of INK’s History officially opens
On October 27th, INK unveiled its newest addition - The Museum of INK’s History. This novel museum showcases the development of the company as the East Siberian upstream producer. In it one will find a wide variety of INK related exhibitions, including archival documents and photos, samples of the rock cores, parts of machinery used for oil drilling, and documentaries concerning the company's history. All this will exhibit the successful past of INK and show the road to its bright future.
Oil and gas companies dominate the all-Russian rating by revenues.
The Russian agency "Expert" published its rating of the 600 largest companies by revenues in the “Commersant” daily. Oil and gas companies revenues comprised 29.6% of the sales volume, with Irkutsk Oil Company placing 115th on the list.
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’s High Ranking Among Top 500 Russian Companies
The most prominent Russian business news agency, RosBusinessConsulting (RBC), published a list of the Top 500 largest companies in Russia, the ranking determined by the total revenue and profit.
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.
INK helps forest-fire fighting teams
Once again, Irkutsk Oil Company proves its unwavering commitment to the community and environment of the Irkutsk region. When fires began to rage over the forests of the Olkhonsky, Kachugsky, and Bayandaysky districts, the forest destruction was greatly minimized by Irkutsk Oil Company’s prompt donation of over 500,000 rubles to the regional forest-fire fighting team.
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
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
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.
Sour Oil Processing Begins
Irkutsk Oil, in the beginning of December 2014, began to carry out pilot testing of new facilities at the Yaraktinsky field. The new project, which will process and treat sour oil and gas, includes an oil treatment unit and a gas sulfur removal facility. The gas sulfur removal facility is already under construction meanwhile a few of the equipment modules have yet to arrive.
Irkutsk Oil Company is on target to complete gas processing plant by October 2015
Irkutsk Oil Company is on track for the construction of the gas processing plant and corresponding infrastructure by October 2015. The general contractor reported that the development of the 3.6 million nm³/year gas processing plant at Yaraktinsky field has surpassed 65% completion and the construction of the liquid petroleum gas (LPG) uploading terminal and storages (in Ust’-Kut) is more than 30% complete.
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.
The Central Council of Society for Nature Conservation thanked IOC for its partnership
In December 2014, All-Russian Society for Nature Conservation presented special awards to its partner organizations during its end-of-year meeting. Irkutsk Oil Company was granted a diploma for its large contribution to the organization and its nature conservation events.
Irkutsk Oil Company will fund grants for the Russian Geographical Society in the northern regions
Under an agreement with the regional government, Irkutsk Oil Company provided 300,000 rubles for funding projects of the Russian Geographical Society’s East Siberian branch. Most of these funds will finance a project in a Youth Sports School in Zheleznogorsk-Ilimsky city named "The Paths of Siberian Explorers".
Irkutsk oil workers helped social facilities of northern villages
During the winter period, which in northern regions can last up to six months, Irkutsk Oil Company’s employees and equipment regularly come to help remote villages. For instance, the company often clears roads of snow, delivers fuel to allow continuous operation of social institutions, and provides villages with much needed electricity. This winter, for example, specialists from Irkutsk Oil Company urgently restored engineering systems in a school in Bur village (Katanga region) and in a hospital in Verhnemarkovo village (Ust’-Kut region).
Irkutsk Oil Company and the Government of the Republic of Sakha (Yakutia) began drafting an agreement on cooperation
Evgeniy Milov, Irkutsk Oil Company’s Deputy General Director, met with the First Deputy Prime Minister of the Republic of Sakha (Yakutia), Pavel Marinychev in Yakutsk on December 11th, 2014.
Irkutsk Oil Company is one of Russia’s top five environmentally responsible oil companies
Irkutsk Oil Company was included in Russia’s top five environmentally responsible oil companies by the “Common Sense” project on December 9th, 2014. The project is organized by the World Wildlife Fund (WWF) and the Creon group with the participation of National Rating Agency.
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.
Irkutsk Oil Company named best regional Fuel and Energy Company for the second year in a row
Irkutsk Oil Company was named the best company in Irkutsk regions’ Fuel and Energy Complex for the second consecutive year.
A potential scam was detected by the Company
Irkutsk Oil Company warns its counterparties, business partners and contractors that a twin company called ‘Irkutsk Oil Company, Ltd.’ was established on October 20, 2014 in Moscow. The company was established at the following address: Moscow, B. Ordynka st, 43/1 with INN 3808066311
INK is Amongst the Russia's Fastest-Growing Companies
Irkutsk Oil was included in the list of Russian Top-30 of fastest-growing companies and received the honorary second place in this list. This annual rating is organized by the most prominent Russian business news agency RosBusinessConsulting (RBC). The journalists who conducted this research approved the benevolent influence that fast-growing companies hold over old industries, blossoming sectors, and new markets.
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
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.
Irkutsk Oil Company plans an LNG plant by 2018
In the recent Interdepartmental Commission for Protection of the Baikal, taking place on July 25, 2014, Irkutsk Oil Company announced its plans to build an LNG plant capable of producing up to 84,000 tons of LNG annually. INK aims to complete the foundry by 2018. The plant itself will begin operations near the city of Ust’-Kut in Q4 2017. Moreover, the plan is to supply LNG to the East Siberian regions, specifically Zabaikalsk municipality. It is fair to note, that the Irkutsk region has closed the agreement for the further development of the sector with the latter.
Irkutsk Oil’s Office Became a Winner of Commercial Real Estate Federal Awards
The newly constructed office center “Astra”, Irkutsk Oil Company’s current headquarters, received the Commercial Real Estate Federal Award 2014 in category of ‘Business Center of B Class’. Astra office complex was built by “Activ” group with the involvement of Irkutsk Oil Company itself. The annual commercial Real Estate Awards was established in 2003 by the industry business community initiative and has already proved itself as a prestigious title. Winning the Awards is viewed by INK as an important achievement as it helps with the promotion of the company image on both the Russian and international market.
Preparation of the gas pipeline route starts
In July 2014, the construction unit of INK began ground preparations for the gas pipeline tack, which will be installed between the oil treatment facilities at Yaraktinsky field and the processing facilities of the city of Ust’-Kut. It measures at a grand total of 205 kilometers, making it the most aspiring gas pipeline venture in the region yet. It begins in the Yaraktinsky field, emerges near the Verkhnemarkovo village, runs along the existing INK oil pipeline and road «Viluy», crosses the Nizhnyaya Tunguska, the Malaya Tira and the Bolshaya Tira River, along with various passages and the ESPO pipeline.
The Company supported the Arshan community in Buryatia after mudslide
The company’s management reached a collective decision to aid Arshan’s community in its aim to rebuild itself after a severe mudslide leveled a large part of the city. The chief of medical personnel of Arshan resort, Mr. Vladmir Songolov, reached out to INK asking the company to support the reconstruction of the damaged city. Without much hesitation, INK gladly donated 300,000 rubles to the weakened community. Mr. Vladmir Songolov was pleasantly surprised at the speed of the altruistic decision and expressed his gratitude toward the company.
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.
Irkutsk Oil Company’s headquarter has moved into new location
Irkutsk Oil Company’s headquarter has been relocated into a new office under the address of Bolshoy Liteyniy prospect, 4, situated in the Irkutsk business center, known as ‘Irkutsk-City’. In a mere two weeks, over 250 tons of office equipment, furniture, documents, and personal belongings have been moved into the new properties. Moreover, the transportation and collection of furniture was tasked to three respectable contractors who completed their job efficiently. It is fair to note that a fair percentage of the furnishings was taken and split, a portion sent to the Ust’-Kut branch and a portion given to charity (orphanages, poor families, etc.).
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
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
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.
INK Completes Underground Fire-Fighting Operation on Problematic Landfill in Ust’-Kut
The Irkutsk Oil Company’s specialists completed a fire fighting operation at the troubled underground landfill of sawmill waste in Ust’-Kut. The fire started in October 2013. By the beginning of April, the area on fire had spread to over 2 hectares. The landfill area was rented out by Irkutsk Oil Company in February 2014 as a future site for one of the facilities of the future gas chemical complex plant.
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”.
INK Uses Modern Techniques for Risk Analysis in Implementation of Gas Project
Irkutsk Oil Company has adopted Hazard and Operability Analysis (HAZOP)* to identify the potential risks and operability problems of a new gas processing plant being built in Yaraktinsky field. The new plant will have an operating capacity of 3.6 million cubic meters per day.The company decided to conduct HAZOP studies at an early stage of the gas project, and plans to conduct several more studies at more advanced stages.
The Russian bandy team got lucky on the Irkutsk ice
The XXXIV World Championships for Bandy had ceremonially concluded in Irkutsk, proving to be the biggest sporting event of the year 2014 in the Irkutsk region. We congratulate the Russian victors, who faced off against the Swedish team, beating them 3:2, and claiming the title of World Champions the second time in a row.
World Finance names Irkutsk Oil as Best Independent Oil and Gas Company in Eastern Europe for second consecutive year
The notorious financial magazine World Finance is a leading financial and business publication, produced bimonthly by World News Media from its global headquarters in London. According to the publisher, the audience of this magazine is 120,000 people. Begun in 2007, the World Finance Awards annually celebrate achievement, innovation and brilliance in different areas. The Oil and Gas nomination has been presented since 2010. International experts analyze development progress and activities of companies from varied spheres/sectors, then choose the best of them under the criteria of modernization success, production growth, market share, and relationships with partners and customers, segregating industry by regions
The company’s representative has participated in the 2014 Winter Olympics torch relay
Irkutsk Oil’s Mr. Grigoriy Ivanov became one of the 227 torchbearers who participated on November 27th, 2013 in the relay in Irkutsk. He ran across a road that passed over the Irkutsk main dam. On the total, the participants bore the torch that day for 34 km and the day culminated with a big concert.
INK Group is certified in ISO 14001 and OHSAS 18001
On November 13th 2013, Irkutsk Oil Company and all companies which are part of the 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). IQNet and DQS Holding GmbH, the world leaders in industrial certification, attested this certification.
New stage of JOGMEC-INK joint project in Eastern Siberia
On September 24, 2013, Mr. Kawano Hirobumi, President of Japan Oil, Gas and Metals National Corporation (JOGMEC), Japanese state run company, announced that the joint project between JOGMEC and INK in Eastern Siberia (INK-Zapad) had moved to a new stage after joining of ITOCHU Corporation and INPEX CORPORATION, two major Japanese private companies, to the project as shareholders of JASSOC, which is a subsidiary of JOGMEC holding 49% in INK-Zapad
Closed Joint Stock Company “INK-Capital” announced the changes in the Shareholders
INK-Capital is pleased to announce changes in the shareholders' structure. As a result of the transaction between the European Bank for Reconstruction and Development (EBRD) and Goldman Sachs International (GSI), the EBRD’s stake has decreased to 4.4% and GSI has become a shareholder with a stake equal to 3.75% of INK-Capital’s charter capital.
INK continues to invest in charity
On February 19, 2013, Irkutsk Oil Company signed an addendum to the social economic agreement with the Irkutsk regional government. In 2013 INK plans to donate over 26 million rubles to different charitable projects. The support would mostly benefit local communities in the north of Irkutsk region, where the Company is operating.
Irkutsk Oil Company became a “Company of the year”
RusEnergy, the Russian leading information agency ranked Irkutsk Oil Company as №1 in the category of “the Small/medium sized company of the year”. According to analysts of the “RusEnergy”, Irkutsk Oil Company is an exceptional company in the Russian oil and gas industry. For many years the company has been working in East Siberia, patiently re-investing its net revenues in exploration and production.
Irkutsk Oil Company became a winner of "World Finance" Award 2012
One of the leading financial magazine "World Finance" awarded "Irkutsk Oil Company" as "Best independent company in Eastern Europe 2012".
Irkutsk Region’s Governor Sergei Eroshchenko visited Irkutsk Oil Company’s properties
At the end of August 2012, during the official visit to Ust’-Kut district, Mr. Sergey Eroshchenko visited the Yaraktinsky oil and gas condensate field. He noted that Irkutsk Oil Company has already begun a project of gasification which is ready to partake in the East Siberian and Far Eastern Development Program.
The Ministry of Economic Development endorsed Irkutsk Oil Company’s joint implementation project
Reduction of air emissions and concern for the environment has always been the focus of Irkutsk Oil Company. The Company’s oil production at Yaraktinsky field generates associated petroleum gas (APG), which is partially used as fuel for heating and power generation, but is partially flared. In 2009 with the support of the European Bank for Reconstruction and Development (EBRD), Irkutsk Oil found a way to utilize associated gas – re-inject it into the resorvoir and began building the required gas cycling facility in order to reduce emissions from gas flaring and later sell emission reduction units (ERUs).
Irkutsk Oil Company won EBRD’s 2012 award for Excellence in Environmental and Social Performance
The European Bank for Reconstruction and Development (EBRD) Sustainability awards 2012 took place on 17-20 of May during EBRD’s Annual Meeting and Business Forum in London. EBRD promotes environmental and social sustainability through investments in projects, financial intermediaries and technical cooperation programs. But unlike most international financial institutions, the Bank reports on the impact of these investments as well as recognizing its clients’ progress in promoting environmental and social responsibility.
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.
Charity contributions of INK to regional branch of the Russian Children’s Fund exceeded commitments
On the 29th of April 2011 Irkutsk Oil Company signed an agreement with Irkutsk branch of the Russian Children’s Foundation. INK then committed to buy equipment for the daycare, build a playground in Verkhnemarkovo village and renovate building of elementary school #4 in the Kirensky district. At the expiration of the agreement all commitments were fully met. Irkutsk Oil Company actually spent 990 million vs. 800 million originally budgeted as an additional playground was bought for a city of Ust’-Kut and few other daycare facilities were sponsored.
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.
Irkutsk Oil Company added another block to its portfolio of assets
Irkutsk Oil Company won the state-run auction on exploration and further development of the Sredne-Nepsky block. The block is located in Katangsky district of Irkutsk region and has an area of 4,580 square km. Estimated resources under C3 category are 14.5 million tons of oil while resources under D1 and D2 category are 44.9 and 11.3 million tons of oil correspondingly. Estimated resources of gas under D1 and D2 category are 50.3 and 7.7 bcm correspondingly.
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
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
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.
The Christian Orthodox Chapel would be built at the Yaraktinsky field
Construction of the Orthodox Christian Chapel is initiated on June 22, 2011 at the permanent workers camp of the Yaraktinsky field. Georgiy Belov, a priest erected a cross at the place of future construction.
Irkutsk Oil Company (INK) and Russian Children Fund (RCF) signed an agreement for cooperation
Irkutsk Oil Company and the Irkutsk’s branch of the Russian Children Fund (RCF) signed a cooperation agreement. The document was signed by CEO of INK, Mrs. Marina Sedykh, and the chairman of the fund, Mrs. Svetlana Kulinich.
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 is always ready to help
Irkutsk Oil Company has purchased an ambulance car for Katangsky hospital under the Agreement on Social and Economic Cooperation between the company and Irkutsk Regional Government. A vehicle is on the way to Erbogachen village now.
JOGMEC chairman expresses gratitude to INK employees for donations to Japanese disaster relief fund
In response to the tragic events in Japan, Irkutsk Oil Company management and employees reacted by making donations to organizations providing relief and emergency services to victims of the earthquake and tsunami. The initiative called for donating one day’s worth of pay. Donations were collected in the headquarter office as well as in field divisions. So far over 200 employees have made a contribution of some RUR 300,000 (over $10,000). The company matched the employees’ donations with RUR 450,000 (over $15,000). Many employees sent their own letters of support and condolences to their colleagues at JOGMEC.
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.
Month-Long Campaign to Further Improve Performance in HSE Area
Irkutsk Oil Company has initiated a month-long health, safety, and environment (HSE) campaign to improve performance in this area at the company’s fields. On Earth Day, June 5, 2011, a special committee will award employees with the best results from March 21 to April 20 in compliance with HSE requirements. HSE-related issues are of the highest priority for Irkutsk Oil Company. Annual costs for environmental protection operations are some 30 million rubles (Over $1,000,000).
Support to Local Communities of Indigenous People in Katangsky District
During the week of March 9, 2011, representatives of Irkutsk Oil Company visited several sparsely populated areas of the municipality of Nepsky – Tokma, Nepa and Ika – and attended local community meetings to listen to local residents’ proposals and concerns and report them to the company’s management. Discussions showed that residents were mostly interested in HSE-related issues, employment, and sponsorship. Representatives of Irkutsk Oil Company explained that HSE-related issues are of the highest priority for the company, which is implementing two action plans on environmental protection and cooperation with stakeholders.
INK and Irkutsk Regional Government has signed an agreement
Irkutsk Oil Company has signed a social and economic partnership agreement with the Government of Irkutsk region. The document was endorsed by Mr. Vladimir Pashkov, Vice Governor of Irkutsk region, and Mrs. Marina Sedykh, CEO of Irkutsk Oil Company. Pursuant to the list of social activities, the total INK’s sponsorship in 2011 is planned to be 21.5 million rubles, which is 1.8 higher than the amount of sponsorship in 2010. Key activities will be performed in three municipalities – Ust’-Kutsky, Kirensky and Katangsky.
The pipeline to ESPO is completed in the record time!
In end of 2010 Irkutsk Oil Company has completed the construction of a 62 km pipeline connection from Yaraktinsky field to Transneft’s ESPO pipeline with the annual throughput capacity of 3.5 million tons. The total cost of the pipeline and deliver-acceptance facility construction exceeded 2 billion rubles.
Residents of Katangsky district have approved the Company's plans
On December 13, 2010, public consultations related to the environmental impact assessment (EIA) of implementation the development projects of Irkutsk Oil Company’s subsidiaries, ‘INK-Zapad’, and ‘INK-Sever’ were held with locals in the Erbogachen village.
Cycling-process as the first commercial trial in Russia
On December 17, at the Second International Energy Forum in Moscow, Irkutsk Oil Company presented the report on ‘Cycling-process as the first commercial trial in Russia’.
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.
Russian-Japanese joint-ventures find oil and gas in Irkutsk Region
At a joint press conference in Irkutsk, Mr. Hirobumi Kawano, President of Japan Oil, Gas and Metals National Corporation (JOGMEC), and Mr. Nikolay Buynov, Chairman of Irkutsk Oil Company, confirmed test production of oil and gas at three licensed blocks in the north part of Irkutsk Region where they jointly performed geological survey (“GS”).
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.
INK participates in the tender selection under the Kyoto Protocol
JSC “UstKutNeftegas”, a subsidiary of Irkutsk Oil Company has applied for a tender held by Sberbank in relation to sale of ERUs (Emission Reduction Units) under the Kyoto Protocol. JSC ‘UstKutNeftegaz’ application is related to its joint implementation (JI) project titled ‘Associated Petroleum Gas Flaring Reduction at the Yaraktinsky oil and gas field’, with 588,000 tons of CO2 to be reduced in 2011-2012. Sberbank is Russia’s national dealer in carbon credits.
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
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.
Marina Sedykh airs in ‘Strategy of Success’
On September 2, just a few days before the celebration of Oilman Day in Russia, Marina Sedykh, Chief Executive Officer of Irkutsk Oil Company, met Sergei Kulygin on the ‘Strategy of Success’ TV show aired on AIST-TV (Irkutsk). Marina Sedykh was asked about various issues, including commissioning of the Russian spur of the Russia-China oil pipeline, re-injection of gas into the formation at the Yarakta field, new job creation, and social and economic cooperation.
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.
Determination of gas re-injection JI project at Yarakta field successfully completed
Bureau Veritas Certification (Bureau Veritas) completed determination procedures on the project design document for the joint implementation (JI) project entitled “Associated Petroleum Gas Flaring Reduction at the Yarakta Oil Field, Irkutsk region, Russia” and performed by JSC “UstKutNeftegas”, a subsidiary of Irkutsk Oil Company.
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.
Irkutsk Oil Company and Japanese Trading Company Marubeni (Marubeni Corporation) sign Memorandum of Understanding
On Tuesday, July 10, Irkutsk Oil Company LLC and the Japanese trading company Marubeni (Marubeni Corporation) signed a Memorandum of Understanding. The document was signed by Ms. Marina Sedykh, Irkutsk Oil Company’s General Director, and Mr. Shoichi Ikuta, Executive Officer, on the behalf of Marubeni. Mr. Shoichi Ikuta stated during the signing ceremony that the Memorandum with Irkutsk Oil Company is the first stage of Marubeni Corporation‘s activity in Irkutsk region.
Irkutsk Regional Government awards Irkutsk Oil’s Top Manager
During celebration of the 85th Anniversary of the All Russia Association of the Blind on April 12, 2010, Marina Sedykh, Chief Executive Officer of Irkutsk Oil Company, was awarded a Certificate of Merit by the Irkutsk Regional Government. Alexander Moiseev, Deputy Chairman of the Government of Irkutsk Region, presented the award.
Dmitry Mezentsev, Irkutsk Region Governor, and Marina Sedykh, General Director of INK, sign cooperation agreement
On April 6, 2010, INK and the Irkutsk Region government signed an addendum to their agreement on social and economic cooperation. In 2010, Irkutsk Oil Company (INK) plans to transfer 450 million rubles (approx. $150,000) by way of taxes and dues to the budget.
Bureau Veritas starts determination (independent expert review) of joint implementation project (JIP) on Associated Gas Utilization at the Yaraktinskoe field
Bureau Veritas started determination (independent expert review) of the joint implementation project (JIP) on Associated Gas Utilization at the Yaraktinskoe field, which is planned to be implemented within the frameworks of the Kyoto Protocol. The contract of sale and delivery of emission reduction units released as a result of the implementation of gas re-injection project at the Yaraktinskoe field was signed between UstKutNeftegaz (subsidiary of IrOC) and Stichting Carbon Purchasing Intermediary in August, 2009.
