FOR IMMEDIATE RELEASE
Condensate Treatment Capacity Expanded at the Samburgskiy License Area
Moscow, 7 February 2020. PAO NOVATEK ('NOVATEK' and/or the 'Company') today announced that Arcticgas, a joint venture between NOVATEK and PAO Gazprom Neft, expanded the gas condensate treatment facility's capacity at the Samburgskiy license area to accommodate the increased volumes of gas condensate from developing the Achimov horizons. Pilot operation started at the facility's third stage with a capacity of 1.2 million tons of gas condensate per annum.
'We are increasing production from deeper Achimov horizons with higher concentration of liquid hydrocarbons,' noted Leonid Mikhelson, NOVATEK's Chairman of the Management Board. 'By drilling new Achimov wells and commissioning the additional production capacities, we will increase our natural gas and liquids production in the UGSS area, as well as increase the volumes of gas condensate processing.'
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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».