Crude Hydrocarbon Production
INK Group’s main production assets are Yaraktinsky, Danilovsky, Markovsky oil and gas condensate fields, Ichyodinsky oil field, as well as the Ayansky license block (which includes the West-Ayansky oil and gas condensate field).Irkutsk Oil Company increases its crude hydrocarbon production every year, and has one of the fastest production growth rates among Russian oil companies. Over the past nine years, the Group’s crude hydrocarbon production increased by seven times from 1.3 million tons in 2011 to 9 million tons in 2019.
At the end of 2019, INK’s cumulative production of oil and gas condensate for its entire period of operation reached 50 million tons.
Oil and condensate production, thousand tons
Since its foundation, Irkutsk Oil Company has invested over 300 billion Rubles (as of the end of 2019) for the development of its fields and license blocks, as well as the construction of operational, engineering, and transportation infrastructure.
Irkutsk Oil Company’s management pays special attention to increasing the oil production efficiency (oil recovery rate). The Company also develops the extraction of tight reserves. It successfully applies multistage hydraulic fracturing and re-injection of natural and associated petroleum gas into the reservoir (cycling process).