FOR IMMEDIATE RELEASE
NOVATEK Launches East-Urengoyskoye+North-Esetinskoye Field
Moscow, 10 October 2019. PAO NOVATEK ("NOVATEK" and/or the "Company") announced today that Arcticgas, a joint venture between NOVATEK and PAO Gazprom Neft, commenced commercial production at the East-Urengoyskoye+North-Esetinskoye field within the Samburgskiy license area, with estimated annual production capacity of more than one (1) billion cubic meters of natural gas and 0.2 million tons of gas condensate.
The new production capacity is located in close proximity to the Company's existing infrastructure, which allowed NOVATEK to quickly commence initial production and optimize the capital costs. The field will contribute to incremental growth in NOVATEK's domestic natural gas production in the area of the United Gas Supply System.
The East-Urengoyskoye+North-Esetinskoye field is located in the Purovsky district of the Yamal-Nenets Autonomous Region. Arcticgas holds the field's license for the exploration and production within the Samburgskiy license area. As of 31 December 2018, the field's reserves under the Russian reserves classification totaled about 94 billion cubic meters of natural gas and 27 million tons of liquids.
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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