NOVATEK Will Join the Former Joint Venture With TotalEnergies to Its “Daughter”
LLC NOVATEK-Tarkosaleneftegaz announced that it plans to take over AO Terneftegaz (the former joint venture between NOVATEK and France’s TotalEnergies).
According to data for 2021, Terneftegaz produced 2.6 billion cubic meters. m of gas and 754 thousand tons of liquid hydrocarbons (condensate), and NOVATEK-Tarkosaleneftegaz – 16.6 billion cubic meters of gas and 2.2 million tons of liquid hydrocarbons.
At the end of August 2022, NOVATEK consolidated 100% of Terneftegaz by purchasing a 49% stake from its partner, TotalEnergies.
Terneftegaz operates the Termokarstovoye gas condensate field in the Krasnoselkupsky district of the Yamalo-Nenets Autonomous Okrug. In addition, the company is a holder of a license for geological exploration, exploration and production of hydrocarbons within the Chernichny licensed subsoil block located in the YaNAO (Krasnoselkupsky district). The total resource potential of the Chernichny area according to the Russian classification as of December 31, 2016 was estimated at 179 million barrels of oil equivalent of hydrocarbons.
