Press Releases and Events

NOVATEK launched the Urengoyskoye field

Moscow, 24 October 2013. OAO NOVATEK (“NOVATEK” and/or the “Company”) announced today the initial launch of the Urengoyskoye field within the Company’s Olimpiysky license block, with the field’s production capacity estimated at one (1) billion cubic meters (bcm) of natural gas per annum.

Four (4) production wells have been completed at the field, of which three (3) wells are already producing natural gas. The Urengoyskoye field has proved natural gas reserves of 21 bcm, as estimated under SEC reserves methodology at 31 December 2012.

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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.