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Russian oil company studies gas-to-chemical project

7:25 AM MDT | August 9, 2013 | Francinia Protti-Alvarez

Irkutsk Oil Co. (IOC; Irkutsk, Russia) is studying the possibility of building a gas-to-chemical complex (GCC) to the north of Irkutsk, the company announced. IOC has started work on a feasibility study to determine investment requirements to develop gas reserves at the Yarakta, Markov, and West Ayanskoye oil and gas condensate fields in Russia. Potential investments are estimated at 110-120 billion rubles ($3.34-3.64 billion). The GCC would be built at Ust-Kut, Russia and designed to include a plant for the production of polyethylene. The company has started the...

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