Gazprom and Irkutsk Oil Company (INK) signed a Memorandum of Intent today at St. Petersburg International Gas Forum 2021.
According to the document, the parties are interested in starting a joint project for the production and processing of formation brines (saline groundwaters) from the Kovyktinskoye field of Gazprom in order to obtain lithium compounds and other valuable components.
The groundwaters of the Kovyktinskoye field contain vast reserves of natural lithium compounds. Lithium is highly sought for in various industrial applications, including the manufacture of rechargeable batteries for electric devices and electric vehicles.
INK, in its turn, possesses proprietary technologies for processing lithium-containing production waters and is ready to adjust them so as to process the formation brines produced from the abovementioned field of Gazprom.
Kovyktinskoye is the largest field in eastern Russia: its recoverable gas reserves amount to 1.8 trillion cubic meters. The subsurface use license is held by Gazprom. The field serves as the basis for the Irkutsk gas production center and, together with the Chayandinskoye field in Yakutia, forms the resource base for the Power of Siberia gas pipeline.
Irkutsk Oil Company is one of the largest independent hydrocarbon producers in Russia. The company and its affiliates are engaged in geological surveys, exploration and production of hydrocarbons within the fields and licensed areas of Eastern Siberia, namely in the Irkutsk Region, the Krasnoyarsk Territory, and the Republic of Sakha (Yakutia).