PAO NOVATEK announced today that NOVATEK-Yurkharovneftegas, a wholly owned subsidiary, won the auction for geological survey, exploration and production license for the East-Ladertoyskiy subsoil area located on the Gydan Peninsula in the Yamal-Nenets Autonomous Region.
The license area has estimated hydrocarbon resources of 184 billion cubic meters of natural gas and 32 million tons of liquids, or 1.5 billion barrels of oil equivalent, according to the Russian resource classification system. The license term is 25 years and the auction resulted in one-time payment for the subsoil use of RR 81 million.
The new license area borders NOVATEK’s Ladertoyskiy, Nyavuyahskiy, West-Solpatinskiy and Central-Nadoyakhskiy subsoil areas on the Gydan Peninsula. The new license acquisition is in line with the Company’s strategy to expand its resource base on the Yamal and Gydan peninsulas.