NOVATEK REPORTS PRELIMINARY OPERATING DATA FOR THE FIRST QUARTER 2005
OAO NOVATEK, one of the leading natural gas producers in Russia, today reported preliminary natural gas and liquids production data for the first quarter of 2005.
Gross production for the NOVATEK Group totaled 6.629 billion cubic meters of natural gas and 716 thousand tons of liquids (gas condensate and oil), representing a production growth of 27.8 percent for natural gas and 13.6 percent for liquids compared with the corresponding gross production in the first quarter of 2004.
On a net basis (including subsidiary companies of NOVATEK and NOVATEK’s share of production from associated companies), natural gas and liquids production rose 72.8 percent and 28.1 percent, respectively, compared with the net production in 2004. The increase in net production is a result of reaching the first phase design capacity at both the Yurkharovskoe and Khancheyskoe fields as well as the positive impact from the asset consolidations at
In the first quarter of 2004, gross production for the NOVATEK Group totaled 5.188 billion cubic meters of natural gas and 630 thousand tons of liquids, of which production volumes net to the NOVATEK Group totaled 3,837 billion cubic meters of natural gas and 559 thousand tons of liquids.
PAO NOVATEK is the largest independent natural gas producer in Russia, and in 2017, entered the global LNG market by successfully launching the Yamal LNG project. Founded in 1994, the Company is engaged in the exploration, production, processing and marketing of natural gas and liquid hydrocarbons. Upstream activities of the Company’s subsidiaries and joint ventures are concentrated mainly in the prolific Yamal-Nenets Autonomous Region, which is the world’s largest natural gas producing area and accounts for approximately 80% of Russia’s natural gas production and approximately 15% of the world’s gas production. NOVATEK is a public joint stock company established under the laws of the Russian Federation.