SeverEnergia: Launches Third Stage of the Samburgskoye Field

OAO NOVATEK announced the launch of the third stage of the Samburgskoye gas condensate field developed by SeverEnergia, a joint venture between OAO NOVATEK and OAO GazpromNeft. The launch of the third stage, which exceeds two (2) bcm of natural gas per annum, will enable the field to achieve peak production capacity of approximately 7 bcm of natural gas and more than 900 thousand tons of gas condensate per annum.

Chairman of the Management Board of NOVATEK, Leonid V. Mikhelson stated: “We continue to successfully implement our development plan at SeverEnergia joint venture, and, in the nearest future, we are planning to launch several new large production complexes, which will make a significant contribution to the growth in natural gas and gas condensate production, as well as to the utilization of the capacities of our Purovsky plant and the Ust-Luga Complex”.