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NOVATEK reports preliminary operating data for second quarter and first half 2008

Moscow, 29 July, 2008. OAO NOVATEK today reported preliminary production data for the second quarter and first half 2008.

Gross production for the second quarter totaled 7.5 billion cubic meters of natural gas and 603 thousand tons of liquids (gas condensate and crude oil). Gross natural gas production increased by 210 million cubic meters, or by 2.9%, and gross liquids production increased by 10 thousand tons, or by 1.7%, as compared with the corresponding gross production in the second quarter 2007.

In the first half 2008, gross production for NOVATEK totaled 15.19 billion cubic meters of natural gas and 1.24 million tons of liquids. Natural gas production increased by 290 million cubic meters, or by 1.9%, whereas gross liquids production increased by 29 thousand tons, or by 2.4% as compared with the corresponding gross production in the first half 2007.

In the second quarter and first half 2008, NOVATEK processed 515 and 1,066 thousand tons of unstable gas condensate at the Purovsky Gas Condensate Processing Plant (Purovsky Plant).

NOVATEK’s hydrocarbon production

2Q2007
2Q2008
QoQ%
Gross production
1H2007
1H2008
HoH%
7.29
7.50
2.9%
Natural gas, bcm
14.90
15.19
1.9%
593
603
1.7%
Liquids, mt
1,211
1,240
2.4%

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.