Reserves

NOVATEK ranks amongst the top 3 companies globally in terms of proven natural gas reserves.

Total SEC proved reserves´╗┐ as of 31 December 2018, including the Company’s proportionate share in joint ventures, aggregated 15,789 million barrels of oil equivalent (boe), including 2,177 billion cubic meters (bcm) of natural gas and 181 million metric tons (mmt) of liquid hydrocarbons. Total proved reserves increased by 4% compared to the year-end 2017, representing a reserve replacement rate of 222% for the year, addition of 1,218 million boe, inclusive of 2018 production.

The Company’s reserves were positively impacted by successful exploration works at the Utrenneye,  Urengoyskoye (Samburgskiy license area)  and Yarudeyskoye fields, production drilling at the South-Tambeyskoye, North-Russkoye and Yaro-Yakhinskoye fields, as well as new assets acquisitions (Beregovoye field and Ust-Yamsoveyskiy license area).

The Company significantly increased its exploration activities over the past year with the acquisition of new license areas on the Yamal and Gydan peninsulas. Although the results of these activities are not reflected in the current year reserves, the findings represent some of the largest exploration successes in 2018, supporting the Company’s future plans to build a substantial LNG platform in the Arctic region of Russia.

Under the PRMS reserves reporting methodology, the Company’s total proved plus probable reserves, including the Company’s proportionate share in joint ventures, aggregated 29,619 million boe, including 4,021 bcm of natural gas and 387 mmt of liquid hydrocarbons.

 

Natural gas reserves, bcm

 201820172016201520142013201220112010
ProvedSEC2,1772,0981,8481,7751,7511,7401,7581,3211,144
Proved plus
Probable
PRMS4,0213,8793,2183,1523,1313,1253,1062,1081,840

 

 

 

 

Liquids reserves, mmt 

 201820172016201520142013201220112010
ProvedSEC1811641541431401341069173
Proved plus
Probable
PRMS387366322298310314247199166

 

 

 

 

 Total reserves, mmboe 

 201820172016201520142013201220112010
ProvedSEC15,78915,12013,40212,817

12,643

12,53712,3949,3938,088
Proved plus
Probable
PRMS29,61928,47123,46923,11723,06923,08522,35515,40913,386

 

 

 

 

 

 

 

 

 

 

 

 

 

 

***

Information 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 PAO 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 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.
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