Novatek Awarded Yamal-Nenets Licenses

- Novatek Awarded Yamal-Nenets Licenses

Tuesday, August 30, 2011
OAO NOVATEK

OAO NOVATEK today announced that its subsidiary OOO NOVATEK- Yurkharovneftegas was granted four new license areas for exploration and production in the Yamal-Nenets Autonomous Region based on a ruling by the Russian Government.

Two of the license areas –Salmanovskiy (formerly, Utrenniy) and Geofizicheskiy - are located in the hydrocarbon-rich Gydan peninsula, and have combined reserves of 978.6 billion cubic meters of natural gas and 46.3 million tons of liquid hydrocarbons under Russian reserve classification “ABC1 + C2”. The remaining two license areas - North-Obskiy and East-Tambeyskiy – are located offshore in the northern portion of the Gulf of Ob, and have a combined resource base of 1,763 billion cubic meters of natural gas and 220.7 million tons of liquid hydrocarbons according to the Russian reserve classification “D1 + D2”. All the license areas are adjacent to the Yamal peninsula where the Company is developing its Yamal LNG project.

According to NOVATEK’s Management Board Chairman, Leonid Mikhelson, “These new license areas significantly expand our current reserve and resource base and provide access to a region with enormous resource potential to support NOVATEK’s long-term growth plans”.

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Novatek Tanker Sets Sail on Northern Sea Route

- Novatek Tanker Sets Sail on Northern Sea Route

Friday, July 15, 2011
OAO Novatek


Novatek has announced the inaugural voyage of a high-tonnage Panamax class tanker, which has navigated a new route north of the New Siberian Islands. On June 29, 2011, the tanker Perseverance set sail from the Russian port of Murmansk carrying a cargo of 60 thousand tons of Novatek's stable gas condensate destined for consumers in China. Icebreaking support for this voyage was provided by Russia's Atomflot, a government-owned shipping entity, and the tanker is now on course to its final destination.

Novatek is the first company to utilize the Northern Sea Route in the 2011 summer navigational period. Between June and October 2011, the Company plans to ship six or seven cargoes of stable gas condensate, produced by the Purovsky Gas Condensate Processing Plant, to markets in the Asian-Pacific region via the Northern Sea Route.

Transporting hydrocarbons through the Northern Sea Route is expected to reduce the costs and delivery time for shipments from Russia's northern ports to consumers in the Asian-Pacific region. The use of the Northern Sea Route provides new technical information and navigational experience for hydrocarbon transportation under Arctic conditions and is an integral part of Novatek's logistical strategy to develop prospective fields in the Yamal peninsula.

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Novatek Boosts Production in 2Q11

- Novatek Boosts Production in 2Q11

Friday, July 08, 2011
OAO Novatek

Novatek reported preliminary production data for the second quarter and first half 2011.

Gross production for the second quarter totaled 12.13 billion cubic meters of natural gas and 1.04 million tons of liquids (gas condensate and crude oil). Gross natural gas production increased by 3.72 billion cubic meters, or by 44.2%, and gross liquids production increased by 157 thousand tons, or by 17.8%, as compared with the corresponding gross production in the second quarter 2010.

In the first half 2011, gross production for Novatek totaled 25.56 billion cubic meters of natural gas and 2.06 million tons of liquids. Natural gas production increased by 7.17 billion cubic meters, or by 39.0%, whereas gross liquids production increased by 316 thousand tons, or by 18.1% as compared with the corresponding gross production in the first half 2010.

In the second quarter and first half 2011, Novatek processed 982 and 1,956 thousand tons, respectively, of unstable gas condensate at the Purovsky Gas Condensate Processing Plant.

The Company's preliminary stable gas condensate export volumes amounted to 753 thousand tons for the second quarter 2011 as compared to 536 thousand tons in the corresponding period of 2010. At 30 June 2011, we had approximately 206 million cubic meters of natural gas and 274 thousand tons of stable gas condensate in transit or storage and recognized as inventory.

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Novatek CFO: To Be Granted 4 Licenses Next Week

- Novatek CFO: To Be Granted 4 Licenses Next Week

Tuesday, June 21, 2011
Dow Jones Newswires
LONDON
by Alexis Flynn

Novatek will next week be granted four new licenses on the Yamal and Gdansk gas condensate fields in the Arctic, Chief Financial Officer Mark Gyetvay said Tuesday.

Novatek will get two licenses on each block, which are estimated to hold 8 billion barrels of oil equivalent in potential and proven reserves, said Gyetvay, who was addressing a business audience here.

Separately, Novatek will sign a deal with French major Total SA (TOT) July 1 to build the Sabetta onshore liquefied natural gas plant.

Total will take a 25% stake in the terminal project. In March, Total bought a 12% stake in the Yamal LNG project for $4 billion. At the time, Total Chief Executive Christophe de Margerie said it plans to raise its holding in Yamal to 19.4% within three years.

Copyright (c) 2011 Dow Jones & Company, Inc.

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