INK’s first crude shipment from Kozmino to start this February

Irkutsk Oil Company (INK) plans first shipment of Sweet Crude Oil from a terminal in the Bay of Kozmino (Primorky Territory) in February 2011, JSC Transneft press release said. Transneft is engaged in construction of East Siberia - Pacific Ocean (ESPO) pipeline networks. INK started pumping oil through the system.

Under agreement between Transneft and INK, this January 40,000 tons of Sweet Crude will be supplied from Yarakta field through a 61-km liner part and tie-in point to ESPO system.

Construction of the spur pipeline from the field to the ESPO of capacity of 3,5 million tons a year was completed in late 2010.

To date JSC Transneft issued technical specifications to seven oil companies. Three of them have fulfilled the requirements and can supply crude oil to the ESPO.

The Kozmino Oil Terminal is the terminus of the ESPO pipeline system designed for export of crude oil. Spetsmornefteport Kozmino LLC is the terminal’s operator, which began operating in December 2009. In 2010 crude exports totaled 15,3 million tons.