Moscow, 19 January 2010. OAO NOVATEK today reported preliminary production and operating data for the fourth quarter and full year 2009.
 

Gross production for the fourth quarter 2009 totaled 8.98 billion cubic meters of natural gas and 834 thousand tons of liquids (gas condensate and crude oil). Natural gas production increased by 923 million cubic meters, or by 11.4%, and gross liquids production increased by 126 thousand tons, or by 17.8%, as compared with the corresponding gross production in the fourth quarter 2008. 
 

In 2009, gross production for NOVATEK totaled 32.78 billion cubic meters of natural gas and 3,049 thousand tons of liquids. Natural gas production increased by 1.89 billion cubic meters, or by 6.2%, whereas gross liquids production increased by 463 thousand tons, or by 17.9%, as compared with the corresponding gross production in 2008.

 

During 2009, NOVATEK processed 2,845 thousand tons of unstable de-ethanized gas condensate at the Purovsky Processing Plant, of which 786 thousand tons was processed in the fourth quarter.

 

The Company dispatched 36 tanker shipments of stable gas condensate for export in 2009 as compared to 29 tanker shipments in the corresponding period of 2008. At 31 December 2009, we had approximately 717 mmcm of natural gas and 111 thousand tons of stable gas condensate in transit or storage and recognized as inventory.
 

4Q2008	4Q2009	QoQ%	Gross production	2008	2009	YoY%
8.06	8.98	11.4%	Natural gas, bcm	30.88	32.78	6.2%
708	834	17.8%	Liquids, mt	2,586	3,049	17.9%

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Information provided in this press release presents expected results of OAO NOVATEK operations in the fourth quarter and full year 2009. 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 2009. ОАО NOVATEK assumes no obligation (and expressly declares that it has no such obligation) to update or change any declarations concerning any future results, both due to new information obtained, any future events or for any other reasons. 

 

 

OAO NOVATEK is Russia’s largest independent gas producer and the second-largest natural gas producer 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 in the prolific Yamal-Nenets Region, which is the world's largest natural gas producing area and accounts for over 90% of Russia's natural gas production and 20% of the world’s gas production. NOVATEK is an open joint stock company established under the laws of the Russian Federation. The Company’s shares are listed on the Russian Trading System (RTS) and the London Stock Exchange (LSE) under the ticker symbol ‘NVTK’ and on the NASDAQ PORTAL System as Rule 144A GDR under the ticker symbol “NVATY”.