Hydrocarbon Reserves
The Company’s reserves are estimated on an annual basis under international reserves reporting standards. As of 31 December 2025, NOVATEK’s SEC proved reserves, including the Company’s proportionate share in joint ventures, aggregated 16,974 mmboe, including 2,354 bcm of natural gas and 182 mmt of liquid hydrocarbons. At year-end 2025, the Company’s SEC proved reserves life was 25 years.
The high quality of the reserve base enables NOVATEK to maintain its position as one of the lowest cost producers in the global oil and gas industry.
SEC proved reserves
Total, mmboe
Natural gas, bcm
Liquids, mmt
2025
16,974
2,354
182
2024
17,506
2,425
190
2023
17,598
2,432
197
2022
17,571
2,431
194
2021
16,409
2,261
189
2020
16,366
2,244
197
2019
16,265
2,234
193
2018
15,789
2,177
181
2017
15,12
2,098
164
2016
13,402
1,848
154
2015
12,817
1,775
143
2014
12,643
1,751
140
2013
12,537
1,74
134
2012
12,394
1,758
106
2011
9,393
1,321
91
2010
8,088
1,144
73
Natural gas reserves (SEC), bcm
Liquids reserves (SEC), mmt
Total reserves, mmboe