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Company in Mass Media

Rus’-Oil to biuild a terminal on the Lena for Irelyahneft


Rus’-Oil intends to build its own landing on the Lena River, in Lensk (Yakutia) and a cargo terminal to handle shipments for its managed company Irelyahneft, a source familiar with the situation reported to our editors. According to the source, in the future the terminal will handle at least 300,000 various cargo shipments of all purposes during the navigation period.

Rus’-Oil press service confirmed interest in the project, mentioning they are currently working on choosing the project contractor.

“We are doing this to optimize spending. We try to move fast and find ways to cut costs, given the volatility of oil quotes”, company spokesman said, without announcing investment in the project. Irelyahskoye deposit was discovered in 1978; development started in 1981. Its recoverable reserves are 9 million tons in C1 category, 0.34 million tons in C2 category and 4.68 billion cubic meters of natural gas. Originally the deposit was managed by ALROSA PJSC, which found it to be a non-core, unprofitable and troubled asset. Rus’-Oil, headed by Sergey Podlisetsky, took over in 2013.

The group includes six oil production companies (OC Dulisma JSC, Razvitie Sankt-Peterburga LLC (Surgut), Irelyakhneft CJSC, Khortitsa LLC, and Kompaniya Polyarnoe Siyanie LLC. Rus’-Oil group of companies has been expanding actively since April 2013. According to a statement published recently by DeGolyer and MacNaughton, Rus’-Oil Group recoverable reserves stand at about 147 million tons of oil. Today, oil from Irelyahskoye deposit is mainly used in Yakutia as boiler fuel, mainly consumed by the State Unitary Enterprise “Republic of Sakha (Yakutia) Utilities Company”.

Earlier this year, it became known that Irelyahneft received terms of reference for connecting its oil production infrastructure to ESPO mains pipeline for oil sales. This spring, Yakutia’s Minister of Industry Andrey Panov announced that by 2018 the company intends to complete its drilling plans and build 51 wells, including 41 production wells.

In 2017 Irelyahneft intends to complete the construction of oil delivery and acceptance point at Transneft’s 12th oil pumping station, which will enable the company to begin exporting the oil it produces to the East. Next year, the company intends to extract 250,000 tons, further doubling production to 550,000 tons in 2018. This year’s production estimates stand at 120,000 tons.