OREANDA-NEWS. January 25, 2008. Preparatory works for connection to the “East Siberia – Pacific Ocean” oil trunk pipeline are of high priority for the Irkutsk Oil Company for 2008. The company is going to complete the Danilovo – ESPO project technical and economic assessment and to hold a tender for the oil pipeline designer during the 1st quarter of the current year, Transneft's press service reports with reference to “Eastern oil pipeline” expert portal. 

The Irkutsk Oil Company's affiliated LLC Oil Company “Danilovo” performs the commercial development of the Danilovsk’s oil field. In June 2007 the subsoil user has been provided with the technical conditions for connection of the division to the OPS-8 (oil pumping station 8) located at the 869th kilometer of the ESPO pipeline.

The Irkutsk Oil Company at present holds through its affiliates and subsidiaries ten licenses for geological survey, exploration and production of the hydrocarbon materials in Irkutsk region. Last summer the company has completed the local piping network connecting the areas of the hydrocarbon materials under development. The Irkutsk Oil Company exploitation rate amounted in 2007 over 200 thousand tons of oil.

The construction of the oil trunk pipeline “East Siberia – Pacific Ocean” offers new challenges for the Irkutsk Oil Company. The aggregate volume of crude oil from the Irkutsk Oil Company oil fields will amount to 1 million ton per year by the time the pipeline is put into operation. In order to actualize this task 31 oil-wells will be drilled at the Yaraktinsk oil field, Markovsk division will see three oil-wells drilled and four oil-wells will be drilled at the Danilovsk oil field within 5 years.