Moscow, 16 December 2014. OAO NOVATEK («NOVATEK» and/or the «Company») announced today that SeverEnergia (a joint venture between NOVATEK and OAO Gazprom Neft) launched the second stage of the Urengoyskoye field (within the Samburgskiy license area) including the second train of the gas condensate de-ethanization unit. Overall capacity of the two stages of field development is approximately 13 billion cubic meters (bcm) of natural gas and more than 4.7 million tons of de-ethanized gas condensate per annum.
The wells drilled at the Urengoyskoye field target the Achimov deposits, which are characterized by relatively high depth (approximately 3,700 meters) and high share of gas condensate in the hydrocarbon flow.
SeverEnergia via its fully consolidated subsidiary Arcticgas holds the development and production licenses for the Samburgskiy, Yevo-Yakhinskiy, Yaro-Yakhinskiy and North-Chaselskiy license areas.
As at 31 December 2013, the proved reserves of the Urengoyskoye field within the Samburgskiy license area were estimated at 214 bcm of natural gas and 52 million tons of gas condensate according to the SEC standards.