Irkutsk Oil Company expects oil output to rise 9% in 2017

HOUSTON, Mar 7 (PRIME) -- Irkutsk Oil Company intends to raise oil production by 8.97% on the year to 8.5 million tonnes in 2017, Chairman of the Board of Directors Nikolai Buinov said at the CERAWeek conference on Tuesday.

“Last year … output amounted to 7.8 million tonnes. This year we plan 8.5 million tonnes,” he said.

Irkutsk Oil Company, founded in 2000, includes a group of companies that do geological exploration, prospecting and production of hydrocarbons on 23 license sites in East Siberia.

End