Production

In the first half 2018, NOVATEK’s hydrocarbons production totaled 264.3 million barrels of oil equivalent (boe), including 32.93 billion cubic meters (bcm) of natural gas and 5,864 thousand tons of liquids (gas condensate and crude oil), resulting in an increase in total hydrocarbons production by 6.3 million boe, or by 2.4%, as compared to the first half 2017.

Preliminary natural gas sales volumes, including LNG, aggregated 35.42 bcm, which was 6.9% higher compared with the corresponding period in 2017. The LNG sales volumes on international markets in the first half 2018 amounted to 1.61 bcm.

The Company processed 5,549 thousand tons of unstable gas condensate at the Purovsky Processing Plant, representing a 3.5% decrease as compared with the corresponding volumes processed in the prior reporting period. NOVATEK processed 3,547 thousand tons of stable gas condensate at the Ust-Luga Complex, representing a 0.1% decrease in volumes processed at the facility in the first half 2018.

Preliminary first half 2018 petroleum product sales volumes aggregated 3,594 thousand tons, including 2,260 thousand tons of naphtha, 544 thousand tons of jet fuel, and 790 thousand tons of fuel oil and gasoil.

As at 30 June 2018, NOVATEK had 1.2 billion cubic meters of natural gas and 594 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

 
1H 2018
1H 2017
Change, %
Natural gas, bcm
32.93

31.91

3.2%
Liquids, thousand tons
5,864

5,887

-0.4%
Total hydrocarbons, mln boe 264.3 258.02.4%
Total hydrocarbons, mln boe per day 1.46 1.432.4%
 
                 
 
 
 
 
 
 
 

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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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 1Q18. 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.