Irkutsk Oil Company

Description

Irkutsk Oil Company was established in November, 2000 by uniting several small oil and gas producers operating in Irkutsk region. Irkutsk Oil Company was the first in the region to enter into the operational stage of production and for all those years kept its leading position as the largest oil and condensate producer in Irkutsk region.

Joint Venture 'INK-Sever' was created by Irkutsk Oil Company and Japanese Oil, Gas and Metals National Corporation ('JOGMEC') in April 2008, for the exploration of the north areas of Irkutsk region. Severo-Mogdinsky block exploration is the pilot project of this joint venture.

Irkutsk Oil Company owns INK-Service, Ltd., a fully functional service unit, responsible for drilling and work-over operations at the company's fields. INK-Service has a proven record of successful drilling in the Eastern Siberia and is contracted by other operators in the region.

Irkutsk Oil Company is owned by CJSC 'INK-Capital', with European Bank for Reconstruction and Development as a shareholder among others.


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