Production

In the first quarter 2018, NOVATEK’s hydrocarbons production totaled 132.5million barrels of oil equivalent (boe), including 16.51 billion cubic meters (bcm) of natural gas and 2,936 thousand tons of liquids (gas condensate and crude oil), resulting in an increase in total hydrocarbons production by 2.0 million boe, or by 1.5% as compared with the first quarter 2017.

Preliminary natural gas sales volumes, including LNG, aggregated 20.26 bcm, which was 8.0% higher compared with the corresponding period in 2017. The LNG sales volumes on international markets in the first quarter 2018 amounted to 0.96 bcm.

The Company processed 2,762 thousand tons of unstable gas condensate at the Purovsky Processing Plant, representing a 5.1% decrease as compared with the corresponding volumes processed in the prior reporting period. NOVATEK processed 1,773 thousand tons of stable gas condensate at the Ust-Luga Complex, representing a 0.3% increase in volumes processed at the facility in the first quarter 2018.

Preliminary first quarter 2018 petroleum product sales volumes aggregated 1,566 thousand tons, including 943 thousand tons of naphtha, 253 thousand tons of jet fuel, and 370thousand tons of fuel oil and gasoil.

As at 31 March 2018, NOVATEK had 0.05billion cubic meters of natural gas and 893thousand tons of stable gas condensate and petroleum products in storage or transit and recognized as inventory.

 

NOVATEK’s hydrocarbon production including share in production of joint ventures

 
1Q 2018
1Q 2017
Change, %
Natural gas, bcm
16.51

16.15

2.2%
Liquids, thousand tons
2,936

2,967

-1.0%
Total hydrocarbons, mln boe 132.5 130.51.5%
Total hydrocarbons, mln boe per day 1.47 1.451.5%
 
                 
 
 
 
 
 
 
 

Since 2016 natural gas production includes gas volumes consumed in oil and gas production and development activities (primarily, as fuel gas).

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Information provided in this press release presents expected results of PAO NOVATEK operations in 2017. The information represents preliminary assessment only, which can be adjusted after statistical, financial, fiscal and business reporting becomes available. The information on NOVATEK’s operational results in this press release depends on many external factors and therefore, provided all permanent obligations imposed by the London Stock Exchange listing rules are unconditionally observed, cannot qualify for accuracy and completeness and should not be regarded as an invitation for investment. Therefore, the results and indicators actually achieved may significantly differ from any declared or forecasted operational results in 2017. PAO NOVATEK assumes no obligation (and expressly declares that it has no such obligation) to update or change any declarations concerning any future results, due to new information obtained, any future events or for any other reasons.