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NOVATEK reports preliminary operating data for second quarter and first half 2006

Moscow, 21 July, 2006. OAO NOVATEK today reported preliminary production data for the second quarter and first half 2006. Gross production for the second quarter totaled 7.06 billion cubic meters of natural gas and 633 thousand tons of liquids (gas condensate and crude oil). Natural gas production increased by 1.03 billion cubic meters, or by 17.1%, and gross liquids production increased by 68 thousand tons, or by 12.0%, as compared with the corresponding gross production in the second quarter 2005 (excluding asset disposals).

In the second quarter 2006, Novatek processed 505 thousand tons of unstable gas condensate at the Purovsky Gas Condensate Processing Plant (Purovsky Plant) and polymer production from OAO NOVATEK-Polymer totaled 3.5 thousand tons.

In the first half 2006, gross production for NOVATEK totaled 14.32 billion cubic meters of natural gas and 1.27 million tons of liquids. Natural gas production increased by 1.65 billion cubic meters, or by 13.0%, whereas gross liquids production increased by 184 thousand tons, or by 16.9% as compared with the corresponding gross production in the first half 2005 (excluding asset disposals).

In the first half 2006, NOVATEK processed 1.034 million tons of unstable gas condensate at the Purovsky Plant and polymer production from OAO NOVATEK-Polymer totaled 8.2 thousand tons.

NOVATEK’s hydrocarbon production

2Q2005*
2Q2006
QoQ%
Gross production
1H2005*
1H2006
HoH%
6.03
7.06
17.1%
Natural gas, bcm
12.67
14.32
13.0%
565
633
12.0%
Liquids, mt
1,086
1,270
16.9%

* — Excluding disposed production


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. The Company’s upstream activities 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. The Company’s shares are listed in Russia on Moscow Exchange (MOEX) and the London Stock Exchange (LSE) under the ticker symbol “NVTK”.