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Novatek increased its total hydrocarbon production by 2.2% in the Q1 of 2018

Novatek reported preliminary operating data for the first quarter 2018.

Moscow, 11 April - Neftegaz.RU. Novatek reported on April 10, the preliminary operating data for the 1st quarter 2018.


In the Q1 2018, Novatek’s hydrocarbons production totaled 132.5million barrels of oil equivalent (boe), including 16.51 billion cubic meters (bcm) of natural gas and 2,936 thousand tons of liquids (gas condensate and crude oil), resulting in an increase in total hydrocarbons production by 2.0 million boe, or by 1.5% as compared with the Q1 2017.


Preliminary natural gas sales volumes, including LNG, aggregated 20.26 bcm, which was 8.0% higher compared with the corresponding period in 2017. The LNG sales volumes on international markets in the Q1 2018 amounted to 0.96 bcm.


The company processed 2,762 thousand tons of unstable gas condensate at the Purovsky Processing Plant, representing a 5.1% decrease as compared with the corresponding volumes processed in the prior reporting period. Novatek processed 1,773 thousand tons of stable gas condensate at the Ust-Luga Complex, representing a 0.3% increase in volumes processed at the facility in the Q1 2018.


Preliminary Q1 2018 petroleum product sales volumes aggregated 1,566 thousand tons, including 943 thousand tons of naphtha, 253 thousand tons of jet fuel, and 370 thousand tons of fuel oil and gasoil.


As at 31 March 2018, Novatek had 0.05 billion cubic meters of natural gas and 893 thousand tons of stable gas condensate and petroleum products in storage or transit and recognized as inventory.


Source : Neftegaz.RU