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. This growth will be achieved by the intensification of drilling at Group’s license blocks and fields.  Consequently, INK plans to purchase new drilling rigs and hire an additional 500 employees in  2014.

The Group provides exploration and production drilling at 9 different license blocks and fields in Irkutsk region and in the Republic of Sakha (Yakutia). The main production field is still in the Yaraktinsky, accounting for over 70% of the Group’s drilling. According to Federal State Unitary Enterprise “Central Dispatching Department of Fuel Energy Complex” (CDU TEK), the Group’s share in the total volume of exploration and production drilling in Irkutsk region  accounted for about 50% in 2013.