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Marina Sedykh: INK is developing a climate strategy to reduce direct greenhouse gas emissions

August 18, 2023

Irkutsk Oil Company (INK) will reduce its direct greenhouse gas emissions as part of implementation of the sustainable development strategy. JSC INK-Capital General Director Ms. Sedykh gave a talk on the topic at the Baikal International Youth Forum.
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INK has been consistently diversifying its business developing new activities such as gas processing, gas chemistry, inorganic chemistry, and helium production — thus reducing its environmental impact.

“In 2022, we adopted a decarbonization strategy and implemented a corporate greenhouse gas emissions monitoring, measurement, and management system. Now we are working on a climate strategy – a higher-level document. Developing and enacting these documents, starting-up the gas business facilities, and putting in operation two booster compressor stations to re-inject associated petroleum gas into formation will enable us to reduce direct greenhouse gas emissions by 2030 in line with the targets we set,” Ms. Sedykh said.

According to the General Director, both corporate and individual actions should align with the common goal – meeting the needs of the current generation should not affect future ones.

“We ought to hand the planet over to our descendants at least as is, but preferably in a better condition. To do so, it is in our hands to reduce our environmental and climate impacts, mainly by reducing greenhouse gas — primarily carbon dioxide — emissions. Big businesses, includingin the oil and gas and metals sector, account for a significant portion of them,”Ms. Sedykh noted.

Sustainable development goals are the main subject of the Baikal Forum to be held on October 14-18 in the Olkhonsky district. According to the organizers, discussions of the topic will help young people develop competences necessary to succeed in various activities and life in general. At the opening ceremony, Ms. Sedykh noted that the subject is gaining momentum thanks to INK’s efforts, among other factors, as the company has been consistently promoting the ESG agenda in the region over the past few years.

Irkutsk Oil Company (INK) is a private Russian producer of raw hydrocarbons. The company incorporated in 2000 engages in geological study, exploration, and development of 53 subsoil blocks in the Irkutsk Region, Krasnoyarsk Region, and Republic of Sakha (Yakutia). INK is implementing a project in Ust-Kut town that includes production, treatment, transportation, processing facilities, a helium plant, and Irkutsk Polymer Plant. INK Group currently counts over 15 thousand employees.

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