Novatek reported on January 13, 2017, its preliminary operating data for the 12 months 2016.
Russia’s largest independent gas producer and the 2nd-largest natural gas producer Novatek reported that its gas output declined by 2.7 % in 2016, while gas condensate and oil production jumped by almost 37 % as it commissioned new fields.
Novatek's natural gas output declined to 66.10 billion cubic metres last year.
Production of gas condensate and crude oil, classified as liquids, rose to 12.44 million tonnes, helping Russia's overall oil output reach a new post-Soviet high of 10.96 million barrels per day last year.
Novatek, controlled by its CEO Leonid Mikhelson had planned to keep natural gas production flat in 2016 while targeting a 30 % rise in output of crude oil and gas condensate.
|Natural gas, bcm||67.9||66.10||-2.7 %|
|Liquids, thousand tons||9,09||12,44||36.8 %|
|Total hydrocarbons, mln boe||521.6||537.9||3,1%|
|Total hydrocarbons, mln boe/day||1.43||1.47||2,8%|
For 2017, it expects a small decline in gas output.
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