PAO NOVATEK is principally engaged in the exploration, production, processing and marketing of natural gas and liquid hydrocarbons.
Our principal operating areas are concentrated in the Yamal-Nenets Autonomous Region (YNAO) in Western Siberia. The YNAO is the most significant gas producing region in Russia, accounting for approximately 80% of Russia’s natural gas production and approximately 15% of global gas production.
As of 31 December 2022, we had 17.6 billion barrels of oil equivalent (boe) of SEC proved reserves. Most of our reserves are located onshore or can be developed from onshore locations and are attributed to the conventional categories.
We aim to expand our resource base through geological exploration at fields and license areas not only in close proximity to existing transportation and production infrastructure, but also in new potentially prospective hydrocarbon areas. In 2022 the replacement rate of our proved reserves amounted to 282%.
We carry commercial production of hydrocarbons at 26 fields. Marketable production of natural gas increased by 0.3% and production of liquids increased by 3.6% in 2023.
We process our unstable gas condensate at our Purovsky Plant, which produces stable gas condensate and liquefied petroleum gas (LPG). In June 2013 we launched processing of stable gas condensate at the newly built Ust-Luga Complex on the Baltic Sea. The Complex produces light and heavy naphtha, jet fuel, heating oil and gasoil.
We generate revenues primarily from natural gas and stable gas condensate product sales and, to a lesser extent, sales of other liquid hydrocarbons. Our total revenues and EBITDA in 2021 amounted 1157 bln RUB and 712 bln RUB respectively.