12/14/2016

TOKYO — INPEX is to enter the production phase at Ichyodinskoye oil field, the company said Wednesday.

The field lies within the Zapadno-Yaraktinsky Block (ZY Block) in Irkutsk Oblast in the Russian Federation. The move follows confirmation of commercial quantities of crude oil following long-term production testing.

INPEX is currently involved in exploration in ZY Block and the Bolshetirsky Block (BT Block), also in Irkutsk Oblast, with Japan Oil, Gas and Metals National Corporation (JOGMEC) and ITOCHU Corporation (ITOCHU) through Japan South Sakha Oil Co. (JASSOC).

The two blocks are situated onshore, about 700 km north of Irkutsk, and have surface areas of 4,835 km2 and 3,307 km2, respectively. The blocks are operated by INK-Zapad, a JV between Irkutsk Oil Company and JASSOC.

Crude oil produced from the field is to be supplied domestically as well as exported to Japan and other Asian markets.

Exploration activities have also confirmed oil and gas indications within deposits outside of Ichyodinskoye field. It is therefore expected that production testing targeting these deposits will be carried out sequentially going forward.

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