Production

In the first quarter 2019, NOVATEK’s hydrocarbon production totaled 147.1 million barrels of oil equivalent (boe), including 18.66 billion cubic meters (bcm) of natural gas and 2,987 thousand tons of liquids (gas condensate and crude oil), resulting in an increase in total hydrocarbons produced by 14.6 million boe, or by 11.0% as compared with the first quarter 2018.

Preliminary natural gas sales volumes, including volumes of LNG sold, aggregated 22.18 bcm, representing an increase of 9.5% as compared with the corresponding period in 2018. Natural gas volumes sold in the Russian Federation in the first quarter 2019 were 18.77 bcm, whereas volumes of LNG sold on international markets amounted to 3.41 bcm.

The Company processed 2,693 thousand tons of unstable gas condensate at the Purovsky Processing Plant, representing a 2.5% decrease as compared with the corresponding volumes processed in the prior reporting period. NOVATEK processed 1,765 thousand tons of stable gas condensate at the Ust-Luga Complex, representing a 0.5% decrease in volumes processed at the facility in the first quarter 2019.

According to preliminary data in the first quarter 2019, petroleum product sales volumes aggregated 1,797 thousand tons, including 1,159 thousand tons of naphtha, 272 thousand tons of jet fuel, and 366 thousand tons of fuel oil and gasoil. NOVATEK sold 1,128 thousand tons of crude oil and 372 thousand tons of stable gas condensate.

As at 31 March 2019, NOVATEK had 0.8 billion cubic meters of natural gas, including LNG, and 772 thousand 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

 
1Q19
1Q18
Change, %
Natural gas, bcm
18.66

16.51

13.0%
Liquids, thousand tons
2,987

2,936

1.7%
Total hydrocarbons, mln boe 147.1 132.511.0%
Total hydrocarbons, mln boe per day

1.63

1.4711.0%
 
                 
 
 
 
 
 
 

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 the first quarter 2019. 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 the first quarter 2019. 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.