Eng - News

Irkutsk Oil Company Increased Production by 29.4% in the First Half Year

25.07.14 08:37

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 holds 19 subsoil licenses in East Siberia, providing an 480% increase in oil and condensate culminating in the production 2.9 million tons within the last five years As of May 2014, INK’s cumulative liquid hydrocarbon production exceeded 10 million tons. In 2014 INK plans to produce 3.6 million tons of oil and condensate.