NOVATEK RESERVES: +4%

NOVATEK - PAO NOVATEK (“NOVATEK” and/or the “Company”) announced that independent petroleum engineers, DeGolyer & MacNaughton, have completed their comprehensive reserve appraisal of the Company’s hydrocarbon reserves as of 31 December 2018.

Total SEC proved reserves, including the Company’s proportionate share in joint ventures, aggregated 15,789 million barrels of oil equivalent (boe), including 2,177 billion cubic meters (bcm) of natural gas and 181 million metric tons (mmt) of liquid hydrocarbons. Total proved reserves increased by 4% compared to the year-end 2017, representing a reserve replacement rate of 222% for the year, addition of 1,218 million boe, inclusive of 2018 production.

The Company’s reserves were positively impacted by successful exploration works at the Utrenneye,  Urengoyskoye (Samburgskiy license area)  and Yarudeyskoye fields, production drilling at the South-Tambeyskoye, North-Russkoye and Yaro-Yakhinskoye fields, as well as new assets acquisitions (Beregovoye field and Ust-Yamsoveyskiy license area).

The Company significantly increased its exploration activities over the past year with the acquisition of new license areas on the Yamal and Gydan peninsulas. Although the results of these activities are not reflected in the current year reserves, the findings represent some of the largest exploration successes in 2018, supporting the Company’s future plans to build a substantial LNG platform in the Arctic region of Russia.

Under the PRMS reserves reporting methodology, the Company’s total proved plus probable reserves, including the Company’s proportionate share in joint ventures, aggregated 29,619 million boe, including 4,021 bcm of natural gas and 387 mmt of liquid hydrocarbons.

Earlier: 

2019, January, 18, 10:20:00 NOVATEK PRODUCTION +6.9% NOVATEK - In 2018, NOVATEK’s hydrocarbon production totaled 548.4 million barrels of oil equivalent (boe), including 68.81 billion cubic meters (bcm) of natural gas and 11,800 thousand tons of liquids (gas condensate and crude oil), resulting in an increase in total hydrocarbons produced by 35.1 million boe, or by 6.9% as compared with the twelve months 2017. Русский | English

2019, January, 14, 11:25:00 RUSSIAN LNG FOR ASIA BLOOMBERG - Russia’s Novatek PJSC is looking at storing liquefied natural gas produced in the Arctic on Japan’s southern island of Kyushu so it can better meet spot demand from China and cut shipping costs.

2018, December, 21, 14:00:00 NOVATEK, SACE STRATEGIC COOPERATION NOVATEK - PAO NOVATEK ("NOVATEK" and/or the "Company") and SACE (CDP Group) signed a Memorandum on Strategic Cooperation (“Memorandum”) in relation to the Company's current and future LNG projects. The parties agreed to develop long-term cooperation on the Arctic LNG 2 project and potential new LNG projects involving Italian suppliers and engineering companies. Русский | English

2018, November, 23, 12:10:00 START OF YAMAL LNG - 3 NOVATEK - PAO NOVATEK (“NOVATEK” and/or the “Company) announced that its joint venture Yamal LNG has commenced initial production of LNG at the plant’s third LNG train. The total nameplate capacity of all three LNG trains is 16.5 mmtpa, or 5.5 mmtpa per LNG train. Русский | English

2018, October, 26, 12:10:00 NOVATEK'S PROFIT RUB 45.9 BLN NOVATEK - In the third quarter and the nine months of 2018, profit attributable to shareholders of PAO NOVATEK increased to RR 45.9 billion (RR 15.23 per share), or by 21.6%, and to RR 121.1 billion (RR 40.17 per share), or by 8.1%, respectively, as compared to the corresponding periods in 2017. Русский | English

2018, October, 19, 11:15:00 RUSSIAN LNG FOR GERMANY PLATTS - Novatek will hold 49% and Fluxys 51% in the joint venture, which plans to build and operate a 300,000-mt-a-year terminal for receiving and unloading mid-scale LNG carriers, keeping LNG in storage, and providing downstream LNG distribution services.

2018, October, 19, 11:10:00 RUSSIAN YAMAL LNG PE - The development of Novatek's still-expanding Yamal liquefied natural gas project has so far proved to be largely immune from Western sanctions. As Asian demand surges, this is bolstering confidence among partners lining up to provide financing for the company's second LNG project on Russia's Arctic coast.