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Yurkharovskoye

Discovered in 1970, the Yurkharovskoye field is located within the Polar Circle southeast of the Tazovsky peninsula,  The field is licensed to our wholly-owned subsidiary OOO NOVATEK-YURKHAROVNEFTEGAS, and has been producing natural gas and gas condensate since 2003.  It is the largest of our core fields in terms of reserves, and the second-largest in terms of production. The Yurkharovskoye field is the cornerstone of our mid-term strategy of growing our production and reserves. During the year, our exploration efforts yielded positive results on this field as we discovered six new deposits.

In 2007, we commissioned a pilot methanol production unit with throughput capacity of 12,500 metric tons per annum at the Yurkharovskoye field. The methanol production unit is integrated into the field’s Complex Gas Preparation Plant and is the world’s only low-tonnage methanol facility of this kind at a gas condensate field. The on-site methanol production unit will minimize the environmental risks involved in transporting methanol to the field, while correspondingly reducing production costs and improving operational stability.

In 2008, we launched  Phase Two of development at the Yurkharovskoye field, thereby increasing the Company’s productive capacity to over 100 million cubic meters per day. 

In 2009, the Company launched the second stage of Phase Two development at the Yurkharovskoye field, providing the Company with the potential to increase annual productive capacity at the field by seven billion cubic meters (bcm) of natural gas and approximately 600 thousand tons of unstable gas condensate.  As part of the second stage development, the Company launched two additional processing trains for separating natural gas, enabling the field to reach annual natural gas and gas condensate production volumes of 23 bcm and two million tons, respectively. With the launch of the second stage, NOVATEK has the productive capacity to produce up to 44 bcm of natural gas per annum.

12.03.2010
NOVATEK announces consolidated IFRS results for the year ended 31 December 2009
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10.03.2010
Notification by persons discharging managerial responsibilities
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10.03.2010
NOVATEK Board оf Directors announces date of Annual General Meeting of Shareholders
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15.02.2010
NOVATEK increases its stake in exploration licenses
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