Press Releases and Events
Results of NOVATEK’s Board of Directors Meeting
The information contained in this section of the Novatek website is restricted.
THE INFORMATION CONTAINED HEREIN DOES NOT CONTAIN OR CONSTITUTE AN OFFER OF SECURITIES FOR SALE, OR SOLICITATION OF AN OFFER TO PURCHASE SECURITIES IN THE UNITED STATES OR ANY OTHER JURISDICTION WHERE SUCH AN OFFER OR SOLICITATION WOULD BE UNLAWFUL. THE SECURITIES REFERRED TO HEREIN HAVE NOT BEEN AND WILL NOT BE REGISTERED UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES ACT"), AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES UNLESS THE SECURITIES ARE REGISTERED UNDER THE SECURITIES ACT, OR AN EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT IS AVAILABLE. NO PUBLIC OFFERING OF THE SECURITIES WILL BE MADE IN THE UNITED STATES.
Confirmation of Understanding and Acceptance of Disclaimer
These materials are for informational purposes only and are not directed to, nor are they intended for, access by persons located or resident in the United States, Canada, Australia or Japan. I certify that I am not located in the United States, Canada, Australia or Japan (as such terms are defined in Regulation S under the Securities Act.) I have read and understood the disclaimer set out above. I understand that it may affect my rights. I agree to be bound by its terms.
Moscow, 8 November 2010. The Board of Directors (the “Board”) of OAO NOVATEK (“NOVATEK” and/or the “Company”) met today and the following agenda items were approved:
1. The issuance of a Eurobond for an amount of up to 1,500 million US dollars for a period of up to ten years.
2. The acquisition of a 51% participation interest in OOO SeverEnergia by OOO Yamal Development, a 50/50 joint venture between NOVATEK and OAO Gazprom Neft. OOO SeverEnergia holds 100% of the shares of OAO Arctic Gas, ZAO Urengoil Inc. and OAO Neftegaztechnologia, which hold licenses for the development of oil and gas condensate fields in the Yamal-Nenets Autonomous Region. As of 1 January 2009, the reserves of OOO SeverEnergia, under the Russian reserve classification ABC1 + C2, totaled 1.3 trillion cubic meters of natural gas, 154 million tons of gas condensate and 568 million tons of crude oil according to the Russian Federation’s State Balance of Reserves.
3. The acquisition of 51% of the shares of OAO Sibneftegas. OAO Sibneftegas holds licenses for development of oil and gas condensate fields within the following license areas located in the Yamal-Nenets Autonomous Region: Beregoviy license area, Hadyryahinskiy license area, Pyreiniy gas condensate field and Zapadno-Zapolyarnoye gas field. As of 1 January 2009, the reserves of OAO Sibneftegas, under the Russian reserve classification ABC1 + C2 totaled 395.53 billion cubic meters of natural gas and 8.44 million tons of gas condensate according to the Russian Federation’s State Balance of Reserves. In the first nine months of 2010, OAO Sibneftegas’ gross natural gas production totaled 7.3 billion cubic meters.
According to NOVATEK’s CEO, Leonid Mikhelson, “The acquisition of the new assets is consistent with the Company’s strategy to grow its resource base and increase production of natural gas and liquid hydrocarbons”.
The materials do not constitute an offer of securities for sale in the United States, nor may the securities be offered or sold in the United States absent registration or an exemption from registration as provided in the U.S. Securities Act of 1933, as amended, and the rules and regulations thereunder. There is no intention to register any portion of the offering in the United States of America or to conduct a public offering of securities in the United States of America.
The information contained herein does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the securities referred to herein in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration, exemption from registration or qualification under the securities laws of any such jurisdiction.
This communication does not constitute an offer of securities to the public in the United Kingdom. No prospectus has been or will be approved in the United Kingdom in respect of the Securities. Consequently, this communication is directed only at (i) persons who are outside the United Kingdom or (ii) persons who have professional experience in matters relating to investments falling within Article 19(1) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the “Order”), (iii) high net worth entities falling within Article 49(2) of the Order and (iv) other persons to whom it may lawfully be communicated (all such persons together being referred to as “relevant persons”). Any investment activity to which this communication relates will only be available to, and will only be engaged with, relevant persons. Any person who is not a relevant person should not act or rely on this document or any of its contents.
Copies of this announcement are not being made and may not be distributed or sent into the United States, Canada, Australia or Japan.
In connection with the sale of securities referred to herein, one or more parties named as the stabilising manager(s) (or persons acting on behalf of any stabilising manager(s)) may over-allot securities or effect transactions with a view to supporting the market price of the securities at a level higher than that which might otherwise prevail.
However, there is no assurance that the stabilising manager(s) (or persons acting on behalf of any stabilising manager(s)) will undertake stabilisation action. Any stabilisation action may begin on or after the date on which adequate public disclosure of the terms of the offer of the securities is made and, if begun, may be ended at any time, but it must end no later than the earlier of 30 days after the issue date of the securities and 60 days after the date of the allotment of the securities. Any stabilisation action or over-allotment must be conducted by the relevant stabilising manager(s) (or person(s) acting on behalf of any stabilising manager(s)) in accordance with all applicable laws and rules.
These materials do not constitute a public offer or advertisement of any securities in the Russian Federation, an offer, or an invitation to make offers, to purchase, sell, exchange or transfer any securities in the Russian Federation and do not constitute an “advertisement” or “offering” of the securities in the Russian Federation within the meaning of Russian securities laws and must not be passed on to third parties or otherwise be made publicly available in the Russian Federation. No prospectus will be registered with respect to these securities in the Russian Federation and the securities referred to herein are not intended for “placement” or “circulation” in the Russian Federation unless otherwise permitted under Russian law.
PAO NOVATEK is one of the largest independent natural gas producers 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 Area, 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.