Hydrocarbon Production

In 2025, NOVATEK carried out commercial hydrocarbon production at 30 fields. The Company’s production, including our attributable share in the production of JVs, amounted to 673 mmboe, up 0.9% versus 2024. The key contributors to the production increase were the launch of the North-Chaselskoye field in 2Q2024 and the further development of its gas condensate deposits, the launch of additional production capacities at the Kharbeyskoye field of the North-Russkiy cluster, the launch of new Achimov gas treatment facilities at the Urengoyskoye field of the Samburgskiy license area and the launch of the Yevo-Yakhinskoye field.

Total natural gas production including the Company’s share in production of joint ventures aggregated 84.57 bcm, representing 82.2% of our total hydrocarbon output. The share of gas produced from gas condensate bearing layers (or “wet gas”) in proportion to total gas production was 87.1%. Production of natural gas increased by 0.6%, as compared to 2024 volumes.

Production of liquid hydrocarbons including the Company’s share in production of joint ventures totaled 14.11 mmt. Marketable production of liquid hydrocarbons increased by 2.3%, as compared to 2024. In 2025, we continued to achieve some of the lowest lifting costs in the industry (including the share in production of joint ventures).

Since 2016 natural gas production includes gas volumes consumed in oil and gas production and development activities (primarily, as fuel gas).