NOVATEK Starts Production at Yevo-Yakhinskiy Cluster
Moscow, 16 May 2022. PAO NOVATEK (“NOVATEK” and/or the “Company”) announces that the Company's subsidiary OOO NOVATEK-Yurkharovneftegas has started pilot production from gas condensate deposits at the Yevo-Yakhinskiy Cluster including the Yevo-Yakhinskoye and Ust-Yamsoveyskoye fields, as well as part of the Urengoyskoye field (within the boundaries of the Olimpiyskiy license area). The annual production level at the Yevo-Yakhinskiy Cluster is 4 bcm of natural gas and 1.3 mmt of gas condensate.
“Maintaining pipeline gas production levels within the reach of the Unified Gas Supply System for the domestic market supplies, as well as gas condensate production to secure the load of our processing capacities remains one of the main priorities of the Company,” noted Leonid Mikhelson, NOVATEK’s Chairman of the Management Board. “The Yevo-Yakhinskiy Cluster fields will contribute significantly to our gas and gas condensate 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. 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.