KEY EVENTS IN HISTORY OF IRKUTSK OIL COMPANY
| 2011 |
 The Company started shipping of hydrocarbon to p.Kozmino via ESPO |
| Because of "Yaraktinsky field - ESPO" was comissioned and the production of hydrocarbon has been enlarged, the second stage construction of Oil Treatment Facility at Yaraktinsky's field has been started. |
| |
Purchased 3 new licenses: for Ayanskiy (West) License Block, Byukskiy License Block and Suntarskiy License Block. |
| 2010 |
The Company shipped its second million ton of production from the railroad terminal in Ust’-Kut |
| Peak production of 14,000 bpd was reached |
| |
New field at Severo-Mogdinsky licence block was discovered. Field was named after Boris Sinyavsky |
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The first stage of Gas Cycling Facility at the Yaraktinsky field was launched, the first of its kind in Russia |
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Several gas monetisation projects were actively studied |
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Two new fields at Angaro-Ilimsky and Naryaginsky licenses were discovered |
| 2009 |
Multilateral Carbon Credit Fund agreed to buy carbon credits from a subsidiary of Irkutsk Oil |
| Memorandum of Understanding was signed between Sumitomo Corporation and Irkutsk Oil Company |
| |
Four core Irkutsk Oil’s fields were approved for preferential export duty by the Russian Government |
| |
Transneft granted access to ESPO trunk pipeline |
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Memorandum of Understanding was signed between SIBUR and Irkutsk Oil Company |
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EBRD awarded Marina Sedykh with ‘Women in business’ award |
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Cumulative production of oil and condensate reached 1 million tons |
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The Company signed the agreement with JOGMEC to develop two license blocks: Bolshetirsky and West Yaraktinsky. JV “INK-Zapad”, a new joint venture was established solely for that purpose |
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The first stage of Oil Treatment Facility at Yaraktinsky field was commissioned |
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EBRD provided company with 90 million euro loan for boosting production and development of infrastructure |
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Memorandum of understanding was signed with JOGMEC for collaborative study on the applicability of Japan-GTL process to Irkutsk Oil natural gas resources |
| 2008 |
8.15% stake was acquired by EBRD |
| West-Ayansky field was discovered |
| |
The Company started to place most of its risks under the comprehensive energy package insurance |
| 2007 |
Irkutsk Oil Company signed MoU with RUSAL |
| Pipeline between Markovsky field and railroad terminal in a city of Ust’-Kut was completed, the first pipeline infrastructure in the region |
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JV “INK-Sever” was established with Japanese JOGMEC for exploration of the North Mogdinsky block |
| 2006 |
The audit of Irkutsk Oil reserves was initiated by DeGolyer & MacNoughton |
| Irkutsk Oil Company signed MoU with Gazprom to supply natural gas from Markovsky and Ayansky fields |
|
The Group subsidiary, INK-NefteGasGeologia acquired Potapovsky, Bolshetirsky, West Yaraktinsky, Angaro-Ilimsky and Naryaginsky license blocks |
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The Group subsidiary, INK-NefteGasGeologia acquired Ayansky field at the state-run auction |
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The preparation of accounting reporting under IFRS was started |
| 2005 |
INK-Service, own oil field full-service unit was created |
| 2004 |
Some 134,000 tons of oil and condensate were produced |
| 2002 |
Commissioning of the Yaraktinsky – Markovsky pipeline made year-round production at both fields possible |
| Over 70,000 tons of oil and condensate were produced |
| 2001 |
Several wells were re-activated at Yaraktinsky, Markovsky, and Danilovsky fields |
| The first 30,000 tons of liquids (oil and condensate) were produced |
| 2000 |
November 27 - Formation of Irkutsk Oil Company* |
| 1977 |
Danilovsky field was discovered |
| 1974 |
Yaraktinsky field was discovered |
| 1962 |
Oil was discovered at Markovsky field when exploration unit struck for oil from the well with a daily production rate of 7,500 bpd. It started a history of the new oil and gas province – the Eastern Siberian. |
*Irkutsk Oil Company, LLC was formed by Mikhail Buynov, his son (the current acting President and beneficial owner), Nikolay Buynov, and few other partners, mostly prominent geologists and specialists formerly employed with State Enterprise “VostSibNeftegazGeologiya”. That geological company was responsible for most discoveries in the Eastern Siberia but has fallen apart with a break of the Soviet Union. Irkutsk Oil Company, LLC acquired shares of two oil producing units - JSC “Ust’KutNeftegaz” (2001-2007) and LLC “Danilovo” (2001-2004) from various investors at the open market and paid out outstanding debts of these units.
