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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  PAO NOVATEK    NVTK

PAO NOVATEK

(NVTK)
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NOVATEK : Condensate Capacity Expanded at Samburgskiy area

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02/07/2020 | 08:33am EDT
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PAO Novatek - NVTK
Condensate Capacity Expanded at Samburgskiy area
Released 13:30 07-Feb-2020



RNS Number : 3788C
PAO Novatek
07 February 2020

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.'

***

Forfurtherinformation, pleasevisitwww.novatek.ruorcontact:

Press Service
+7 (495) 721 2207
press@novatek.ru

Investor Relations
+7 (495) 730 6013
ir@novatek.ru

***

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».


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
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Condensate Capacity Expanded at Samburgskiy area - RNS

Disclaimer

OAO Novatek published this content on 07 February 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 07 February 2020 13:32:00 UTC

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