NOVATEK announced on June 30, 2016 that its subsidiary NOVATEK-Yurkharovneftegas obtained the right to explore and appraise licenses for the West-Solpatinskiy, North-Tanamskiy and Nyavuyahskiy license areas located in the Yamal-Nenets Autonomous Region in the central part of the Gydan peninsula. The license duration is seven years.
As of 1 January 2016, the recoverable resources for the license areas under the Russian reserve classification methodology aggregate approximately 560 billion cubic meters of natural gas and about 57 million tons of liquid hydrocarbons.
The Chairman of NOVATEK’s Management Board Leonid Mikhelson noted: “We continue to expand our resource base in the Gydan peninsula as an important element in our long-term development strategy.
In 2017, we plan to launch the first LNG train at the Yamal LNG project, and we are actively studying the region’s geological potential for implementing future LNG projects”.
