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NOVATEK acquires South-Khadyryakhinskoye and Eurotek
Mark Gyetvay, Deputy Chairman of the Management Board
Alexander Nazarov, Head of IR
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06 December 2017
Moscow, 6 December 2017. PAO NOVATEK (“NOVATEK” and/or the “Company”) announced today the acquisition of AO South-Khadyryakhinskoye and AO Eurotek from AR Oil&Gas B.V., joint venture of AO Neftegazholding and Repsol S.A.
AO South-Khadyryakhinskoye holds the hydrocarbon exploration and production license for the South-Khadyryakhinskiy license area located in close proximity to infrastructure of the North-Khancheyskoye field developed by NOVATEK’s subsidiary. The license contains estimated hydrocarbon resources of 228 mmboe according to the Russian resource classification as of 31 December 2016.
AO Eurotek holds the hydrocarbon exploration and production license for the Syskonsynyinskiy license area located in the Khanty-Mansiysk Autonomous Region, 120 km to the North-West of the town of Nyagan. The license contains estimated hydrocarbon resources of 48 mmboe according to the Russian resource classification as of 31 December 2016, and produced 799 million cubic meters of natural gas and 6.6 thousand tons of gas condensate during 2016.
According to NOVATEK’s Chairman of the Management Board, Leonid Mikhelson, “The acquisition of the new assets will make a contribution to the Company’s total production and will increase the resource base in the core area of our operations. We continue to work actively to increase production volumes in the area of the Unified Gas Supply System which is one of NOVATEK’s strategic priorities”.
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 15% 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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