PAO Novatek introduced hat NovatekYurkharovneftegas, an entirely owned subsidiary, gained the public sale for geological survey, exploration and manufacturing license for the South-Yamburgskiy subsoil space positioned within the Nadym District of the Yamal-Nenets Autonomous Region in shut proximity to the North-Urengoyskoye area of NOVATEK’s three way partnership Nortgas.
The license space has estimated hydrocarbon sources of 506 billion cubic meters of pure gasoline and 126 million tons of liquids, or four.three billion barrels of oil equal, in line with the Russian useful resource classification system. The license time period is 25 years and the public sale resulted in one-time cost for the subsoil use of RR 1,066 million.
Novatek, headquartered in Moscow, is the biggest impartial pure gasoline producer in Russia, and in 2017, entered the worldwide LNG market by efficiently launching the Yamal LNG challenge.
The Company’s upstream actions are concentrated primarily within the prolific Yamal-Nenets Autonomous Region, which is the world’s largest pure gasoline producing space and accounts for roughly 80% of Russia’s pure gasoline manufacturing and roughly 15% of the world’s gasoline manufacturing.
(Source: Novatek – Image: idle derrick within the Nadym District/Rne Pierre/EGN)
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