Novatek Intends to Maintain Gas Production Volumes in 2023
Production of liquid hydrocarbons will increase by 2-2.5% due to gas condensate, said the head of the company Leonid Mikhelson
Based on the results of 2023, Novatek plans gas production at the level of 2022 – approximately 82 billion cubic meters. m or a little more. Production of liquid hydrocarbons will increase by 2-2.5% due to gas condensate, Novatek head Leonid Mikhelson told reporters on the sidelines of the Eastern Economic Forum.
“In terms of gas production volumes in 2023, it will be at the same level – 82 billion cubic meters or a little more. It was in our strategy that we occupy 18-19% of the domestic market,” he said.
“For liquids there will be a slight increase, although for oil there will be a significant drop, but [it will be compensated] by an increase in condensate production at new capacities and due to production from Jurassic deposits [rich in condensate], so the overall increase will be somewhere around 2-2. 5%,” he said.
It was previously reported that Novatek’s natural gas production at the end of 2022 increased by 2.8% compared to 2021, to 82.14 billion cubic meters. m. At the same time, Novatek reduced the production of liquid hydrocarbons (oil and gas condensate) by 2.9%, to 11.94 million tons. In general, the company’s hydrocarbon production increased by 2% during the reporting period and reached 638.9 million barrels of oil equivalent.
Novatek is Russia’s largest independent natural gas producer. The company conducts exploration, production and processing of gas and liquid hydrocarbons. The company’s 32 fields and license areas are located in the Yamalo-Nenets Autonomous Okrug.
About the forum
The VIII Eastern Economic Forum takes place in Vladivostok on September 10-13, 2023. Its motto is “Towards Cooperation, Peace and Prosperity”. The event is organized by the Roscongress Foundation.
TASS is the general information partner of the EEF.
