Press Releases and Events
NOVATEK wins auction for the East-Tazovskoye field
Moscow, 14 March 2013. OAO NOVATEK (NOVATEK and/or the Company) announced today that its subsidiary OOO NOVATEK-Tarkosaleneftegas won an auction for exploration and production license for the East-Tazovskoye field. Payment for the license was set at RR 3.19 billion.
The East-Tazovskoye field is located in the Yamal-Nenets Autonomous Region in close proximity to the North-Russkoye field, the license for which is also held by OOO NOVATEK- Tarkosaleneftegas.
As of 1 January 2012, recoverable reserves of the field under Russian reserve classification “C1 + C2” amounted to 65.3 billion cubic meters of natural gas and 13.4 million tons of liquid hydrocarbons.
The Chairman of NOVATEK’s Management Board Leonid Mikhelson noted: “The acquisition of a new license is fully consistent with our strategy and allows us to expand the resource base in our core region. We will benefit from significant synergies due to the proximity of the East-Tazovskoye field to our existing asset base”.
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.