NOVATEK Reached Milestone of One Trillion Cubic Meter
PAO NOVATEK today announced that the Company has reached a milestone of one trillion cubic meters* in cumulative natural gas production since commencing its natural gas field development program. The Company commenced producing natural gas at its East-Tarkosalinskoye field with the launch of the first gas treatment unit in 1998. Subsequently, …
NOVATEK Announces Consolidated IFRS Results for the Year Ended 31 December 2019
PAO NOVATEK today released its audited consolidated financial statements for the year ended 31 December 2019 prepared in accordance with International Financial Reporting Standards (“IFRS”). IFRS Financial Highlights (in millions of Russian roubles except as stated) FY 2019 FY 2018 Oil and gas sales 852,232 825,761 Other revenues 10,571 …
NOVATEK: Condensate Treatment Capacity Expanded at the Samburgskiy License Area
PAO NOVATEK today announced that Arcticgas, a joint venture between NOVATEK and PAO Gazprom Neft, expanded the gas condensate treatment facility’s capacity at the Samburgskiy license area to accommodate the increased volumes of gas condensate from developing the Achimov horizons. Pilot operation started at the facility’s third stage with a …
NOVATEK’s 2019 Organic Reserve Replacement Reached 252%
PAO NOVATEK today announced that independent petroleum engineers, DeGolyer & MacNaughton, have completed their comprehensive reserve appraisal of the Company’s hydrocarbon reserves as of 31 December 2019. Total SEC proved reserves, including the Company’s proportionate share in joint ventures, aggregated 16,265 million barrels of oil equivalent (boe), including 2,234 billion …
NOVATEK: 2019 Operating Results – Total Hydrocarbon Production Up 7.5%
PAO NOVATEK (“NOVATEK” and/or the “Company”) reported today preliminary operating data for the twelve months ended 31 December 2019. In 2019, NOVATEK’s hydrocarbon production totaled 590.1 million barrels of oil equivalent (boe), including 74.70 billion cubic meters (bcm) of natural gas and 12,148 thousand tons of liquids (gas condensate and …
NOVATEK Obtains the Bukharinskiy License Area
PAO NOVATEK (“NOVATEK” and/or the “Company”) announced today that Arctic LNG 1, a wholly owned subsidiary, won the auction for geological survey, exploration and production license for the Bukharinskiy subsoil license area located on the Gydan Peninsula and partly in the shallow waters of the Ob and Taz bays in the …
NOVATEK Launches the North-Russkoye Field
PAO NOVATEK announced that NOVATEK-Tarkosaleneftegas, a wholly owned subsidiary, commenced pilot production at the North-Russkoye field, with estimated annual production capacity of 5.7 billion cubic meters of natural gas and 700 thousand tons of gas condensate. The North-Russkoye field is the first launch of the North-Russkiy block of fields, which …
NOVATEK Obtains the Soletsko-Khanaveyskoye Field
PAO NOVATEK (“NOVATEK” and/or the “Company”) announced today that Arctic LNG 1, a wholly owned subsidiary, won the auction for geological survey, exploration and production license for the subsoil area including the Soletsko-Khanaveyskoye field located on the Gydan peninsula in Yamal-Nenets Autonomous Region. The license area has estimated hydrocarbon resources …
Russia’s Novatek wants to sell LNG from Arctic LNG-2 to India
Russia’s Novatek is interested in supplying liquefied natural gas (LNG) from its Arctic LNG-2 project to Indian companies, Russian Deputy Energy Minister Anton Inyutsyn was quoted as saying by the ministry’s website on Monday. Novatek plans to start producing LNG at Arctic LNG-2 in 2022-2023. The plant, which is expected …
NOVATEK: H1 2019 Results: Production Up 15.2%, Revenue Up 11.6%
PAO NOVATEK today released its consolidated interim condensed financial statements as of and for the three and six months ended 30 June 2019 prepared in accordance with International Financial Reporting Standards (“IFRS”). IFRS Financial Highlights (in millions of Russian roubles except as stated) 2Q 2019 2Q 2018 1H 2019 …