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NOVATEK Obtains Gydanskiy Subsoil License at the Gydan Peninsula
Mark Gyetvay, Deputy Chairman of the Management Board
Alexander Nazarov, Head of IR
+7 (495) 730-6013
Yury Melihov, Press-secretary
+7 (495) 721-2207
09 June 2017
Moscow, 9 June, 2017. PAO NOVATEK (“NOVATEK” and/or the “Company”) 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.
The Company already owns significant resources on the Gydan peninsula including the Utrenneye, Geofizicheskoye and Ladertoyskoye fields, as well as the Trehbugorniy, Nyavuyahskiy, West-Solpatinskiy, Tanamskiy and North-Tanamskiy license areas. The Gydanskiy license area is located in close proximity to Utrenneye field, the field that will serve as the resource base for Arctic LNG-2 project. This new license area expands the Company’s reserve base on the Gydan peninsula as well as allowing the Company to consider significant new long-term LNG projects. The license area’s resources according to the Russian classification are 4,740 mmboe of hydrocarbons.
PAO NOVATEK is one of the largest independent natural gas producers in Russia. Founded in 1994, the Company is engaged in the exploration, production, processing and marketing of natural gas and liquid hydrocarbons. The Company’s upstream activities are concentrated mainly in the prolific Yamal-Nenets Autonomous Region, which is the world’s largest natural gas producing area and accounts for approximately 80% of Russia’s natural gas production and approximately 16% of the world’s gas production. NOVATEK is a public joint stock company established under the laws of the Russian Federation. The Company’s shares are listed in Russia on Moscow Exchange (MOEX) and the London Stock Exchange (LSE) under the ticker symbol «NVTK».
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