PAO NOVATEK announced today that the Company’s subsidiary NOVATEK-TARKOSALENEFTEGAS has started pilot production from gas condensate deposits at the Kharbeyskoye field, part of the North-Russkiy cluster. The annual production level for the field’s gas and gas condensate program is 3.6 bcm of natural gas and 0.6 mmt of gas condensate.
“The Kharbeyskoye field launch will make a significant contribution to NOVATEK’s natural gas and liquid hydrocarbon production volumes, – noted Leonid Mikhelson, NOVATEK’s Chairman of the Management Board. – One of our strategic priorities is maintaining the production levels in the area of the Unified Gas Supply System, and we are continuing to develop the North-Russkiy cluster which plays an important role in our strategy.”
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. The Company’s upstream activities 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. The Company’s shares are listed in Russia on Moscow Exchange (MOEX) and the London Stock Exchange (LSE) under the ticker symbol “NVTK”.