The Irkutsk Oil Company helps boost Russia’s economy

LONDON, Jan. 30, 2019 (GLOBE NEWSWIRE) -- According to the OPEC, Russia has the world’s largest natural gas reserves – standing at an estimated 49 trillion cubic metres. These have greatly spurred on the country’s economic growth. What’s less known, however, is that Russia also has many unused resources that could enhance its performance all the more.

Eastern Siberia, in particular, is a region that has many untapped oil and gas reserves. These have not been exploited, due to the fact that many contain either large volumes of associated petroleum gas dissolved in oil, or free gas. Many companies are put off by the time and money needed to extract valuable materials here.

One organisation that has thrown itself into this challenge is the Irkutsk Oil Company (INK). It has developed a unique process to extract gas and separate it into its valuable components. INK has recently spoken to World Finance magazine about its technologies, as well as its latest project of advanced gas processing.

As part of its plans, INK has built and commissioned the Natural and Associated Petroleum Gas Plant – which has a feed capacity of 3.6 million cubic metres per day, as well as constructing a pipeline that stretches 196km. INK has also been able to extract helium, as part of its recent developments.

INK’s massive project is not only expected to revolutionise the oil and gas region in Russia, but enhance the amount of processed goods produced in the country too. Company leaders believe INK’s work will promote the local economy in Eastern Siberia, with INK currently employing over 8,000 people.

To find out about INK’s latest work, check out an exclusive article in the latest issue of World Finance or read it online:

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World News Media
Elizabeth Matsangou
Editorial Department
+44 (0)20 7553 4162