Irkutsk Oil Company was established in November, 2000 by uniting several small oil and gas producers operating in Irkutsk region. Irkutsk Oil Company was the first in the region to enter into the operational stage of production and for all those years kept its leading position as the largest oil and condensate producer in Irkutsk region. 2007 oil and condensate production of the company was close to 220 thousand tons (1.7 million bbl).