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 some 1.5 increase, compared with the last year production. Increase in production is attributed to extensive drilling program and applying the advanced drilling techniques.
Starting January 2011, the company’s major fields are connected to the Transneft’s ESPO pipeline, which enables the company to accommodate the growing production. Irkutsk Oil Company has started a construction of the pipeline between Danilovsky and Yaraktinsky fields to secure all-year-round production at Danilovsky field.
he Company currently holds twelve licenses, of which four are production, seven are combined exploration and production licenses and one is an exploration license in the process of conversion into a combined license.
Photo: INK’s tie-in point to ESPO