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PAO Novatek (NVTK)

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Tuesday 17 December, 2019

PAO Novatek

NOVATEK Obtains the East-Ladertoyskiy License Area

RNS Number : 2015X
PAO Novatek
17 December 2019
 

 

 

FOR IMMEDIATE RELEASE

 

NOVATEK Obtains the East-Ladertoyskiy License Area

 

Moscow, 17 December 2019. PAO NOVATEK ("NOVATEK" and/or the "Company") 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.

 

 

 

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For further information, please visit www.novatek.ru or contact:

Press Service
+7 (495) 721 2207
[email protected]

Investor Relations
+7 (495) 730 6013
[email protected]

***

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».


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