OREANDA-NEWS. June 26, 2014. The Irkutsk branch of Sviaz-Bank (Vnesheconombank Group) has opened a revolving credit line of USD 85 million to the Irkutsk Oil Company, LLC (INK LLC), a regional oil company.

The credit line has been opened for a drawdown period of two years, and the company will use the borrowed funds to increase its working capital.

The Irkutsk Oil Company is a leading oil producer in East Siberia. The INK Group brings together companies conducting geological survey, exploration, and hydrocarbon pumping in East Siberia and neighboring regions. The INK Group is involved in examination and development of 19deposits and licensed areas of mineral resources. Today, INK LLC ranks among 20 biggest oil companies in Russia in crude hydrocarbon reserves.

Sviaz-Bank first entered into a cooperation agreement with INK LLC in 2012 when it made a loan of 600 million rubles to INK-NefteGazgeologia, LLC, which is a member of the INK Group.