Arctic LNG-1: Wins Gydanskiy Subsoil License Bid
PAO NOVATEK announces that its subsidiary OOO «Arctic LNG-1» won the bid for a geological survey, exploration and hydrocarbons production license for the Gydanskiy subsoil area for a term of 27 years. The auction resulted in a one-time payment for the subsoil use in the amount of 2,262 million rubles. …
Novatek Decides to Abandon Plans to Produce Gas in Eastern Siberia
Novatek has revised its production plans in Eastern Siberia and is no longer planning to buy assets there due to low profitability of production, the company’s CEO Leonid Mikhelson told reporters. “We see our future on the Gydan Peninsula and the Yamal Peninsula, we do not consider Eastern Siberia yet. …
NOVATEK signed Framework Agreement with Technip, Linde and NIPIGas and License Agreement with Linde
PAO NOVATEK (“NOVATEK”) signed a Framework Agreement on Strategic Cooperation (“Agreement”) with Technip, Linde AG and Research and Design Institute for Gas Processing (NIPIGas). The parties agreed upon the main conditions for designing and developing future LNG plants based on gravity-based structures for Arctic LNG 2 as well as subsequent NOVATEK’s …
Novatek: Proved Reserves Up 2.8% yoy
PAO NOVATEK announced that independent petroleum engineers, DeGolyer & MacNaughton (“D&M”), have completed their comprehensive reserve appraisal of the Company’s hydrocarbon reserves as of 31 December 2016. Total SEC proved reserves, including the Company’s proportionate share in joint ventures, aggregated 12,775 million barrels of oil equivalent (boe), including 1,755 billion …
Novatek STC: EPCM – The Challenges Facing Russia’s Engineering Companies
Alexey Yazkov, NOVATEK STC (This material reflects the personal views of the author) The engineering market along with the engineering companies are currently undergoing a painful transition from an earlier Soviet created system of providing engineering services through the sectoral institutions. With the customer being the government represented by government …
NOVATEK-Yurkharovneftegas: Wins Syadorskiy Subsoil Auction
OAO NOVATEK (NOVATEK) announces that its subsidiary OOO NOVATEK-Yurkharovneftegas won the bid for a geological survey, exploration and hydrocarbons production license for the Syadorskiy subsoil area for a term of 25 years. The auction resulted in a one-time payment for the subsoil use in the amount of 404 million rubles. The …
NOVATEK Obtains New License Areas on the Gydan Peninsula
OAO NOVATEK announced today that its subsidiary OOO NOVATEK-Yurkharovneftegas obtained the right to explore and appraise licenses for the West-Solpatinskiy, North-Tanamskiy and Nyavuyahskiy license areas located in the Yamal-Nenets Autonomous Region in the central part of the Gydan peninsula. The license duration is seven years. As of 1 January 2016, …
NOVATEK Signed Memorandum of Understanding with PTT
OAO NOVATEK announced today that a Memorandum of Understanding (MOU) was signed between NOVATEK and PTT of Thailand at a meeting between the Russian Prime Minister Dmitry Medvedev and the Prime Minister of Thailand Prayut Chan-o-cha. According to the MOU, the parties intend to cooperate and study potential joint opportunities …
Novatek: Yamal LNG Over 50% Complete
Novatek deputy chairman and CFO Mark Gyetvay said the Yamal LNG project in Russia have now passed the 50 percent overall completion mark. Gyetvay noted that 100 percent of the Yamal LNG’s production capacity has been sold. Additionally, he confirmed the first cargo from Yamal LNG’s first train, which has …
NOVATEK-Yurkharovneftegas: Wins Nyakhartinskiy License Auction
OAO NOVATEK announced today that its subsidiary OOO NOVATEK-Yurkharovneftegas won an auction for the exploration and production license for the Nyakhartinskiy license area. The license duration is 27 years and the payment for the license was set at RR 1,057 million. The Nyakhartinskiy license aria is located in the Yamal-Nenets …