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NOVATEK Starts Production at North-Chaselskoye Field

Moscow, 24 April 2024. PAO NOVATEK (“NOVATEK” and/or the “Company”) announced today that the Company’s subsidiary NOVATEK YURKHAROVNEFTEGAS has started pilot production from gas condensate deposits as part of hot commissioning activities at the North-Chaselskoye field. The field’s annual production rates exceed 3 bcm of natural gas and 0.1 mmt of gas condensate. 

“Maintaining pipeline gas production rates within the reach of the Unified Gas Supply System remains integral to NOVATEK’s strategy,” noted Leonid Mikhelson, NOVATEK’s Chairman of the Management Board. “The startup of the North-Chaselskoye field will make a significant contribution to our natural gas volumes destined for the domestic market.”
 


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.