Determination of the gas reinjection JI project at Yarakta field is successfully completed

Июля 25, 2010

Bureau Veritas Certification completed the determination procedures on the project design document of the joint implementation (JI) project titled “Associated Petroleum Gas Flaring Reduction at Yarakta Oil Field, Irkutsk region, Russia” and performed by UstKutNeftegas OJSC, a subsidiary of Irkutsk Oil Company.

As it has been informed earlier construction of gas cycling facilities at Yarakta oil & gas field will result into emission reduction. Associated gas will be re-injected and not flared.
Auditors of Bureau Veritas Certification thoroughly analyzed the project design documentation as well as conducted interviews with project participants. It’s been determined that the construction of gas cycling facilities leads to additional emission reductions of greenhouse gases, which amount to over 588 ton of CO2 equivalent over the period from July 1, 2011 to December 31, 2012. The project conforms fully to the requirements of the Article 6 of the Kyoto Protocol to the United Nations Framework Convention on Climate Change and the legislation of the Russian Federation. Independent experts state that the project can be recommended to the confirmation of the Russia’s Ministry of Economic Development in accordance with the Article 6 of the Kyoto Protocol and the Decree #843 of the Government of the Russian Federation dated October 28, 2009.
The next step of the Company is to apply for a tender of JI projects held by Sberbank, Russia’s national operator of carbon credits.