USD 75.0319

0

EUR 88.9578

0

BRENT 43.09

0

AI-92 43.26

+0.01

AI-95 47.44

+0.01

AI-98 53.25

+0.05

Diesel 47.45

-0.01

314

Novatek commenced gas condensate production at the North-Russkiy Cluster

Novatek commenced gas condensate production at the North-Russkiy Cluster

Moscow, August 4 - Neftegaz.RU. NOVATEK announced that NOVATEK-Tarkosaleneftegas, a wholly owned subsidiary, commenced pilot production from gas condensate bearing layers of the North-Russkoye and East-Tazovskoye fields with cumulative total annual production capacity of 7.7 billion cubic meters of natural gas and 1 million tons of gas condensate.  

“Our production growth in the area of the Unified Gas Supply System remains one of the key priorities of the company's Strategy,” noted Leonid Mikhelson, NOVATEK’s Chairman of the Management Board.

“Natural gas produced in the North-Russkiy cluster is intended for the Russian domestic market, which has proved to be very stable as compared to international markets in the recent months. Moreover, the additional volumes of gas condensate will ensure full utilization of our processing facilities”, Mikhelson noted.

The North Russkoye cluster is a key greenfield development for NOVATEK. It consists of four fields - North Russkoye, East Tazovskoye, Kharbeyskoye and Dorogovskoye - that lie in the Nadym-Pur-Taz region of West Siberia.

Gas production from the North Russkoye cluster will help offset decline at NOVATEK's mature assets such as Yurkharovskoye or Tarkosaleneftegaz fields. Gas will feed into the Unified Gas Supply System (UGSS) and be sold on the domestic market.

To read the full story in Russian.