Press Releases and Events
NOVATEK wins auction for the Nyakhartinskiy license area
Moscow, 12 April 2016. OAO NOVATEK (NOVATEK and/or the Company) announced today that its subsidiary OOO NOVATEK-Yurkharovneftegas won an auction for the exploration and production license for the Nyakhartinskiy license area. The license duration is 27 years and the payment for the license was set at RR 1,057 million.
The Nyakhartinskiy license aria is located in the Yamal-Nenets Autonomous Region in close proximity to the Yurkharovskoye field, which is being developed by OOO NOVATEK- Yurkharovneftegas. As of 1 January 2016, recoverable resources of the license area under the Russian reserve classification methodology amount to 215 billion cubic meters of natural gas and more than 70 million tons of liquid hydrocarbons.
The Chairman of NOVATEK’s Management Board Leonid Mikhelson noted: “The acquisition of this license is consistent with our long-term development strategy aimed at efficiently expanding the Company’s resource base in our core producing region. It is also important that a significant share of the license area’s resource base comprises liquid hydrocarbons”.
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.