30/10/2018

Press release (Novatek): Yarudeyskoye Field Produced 10 Million Tons of Crude Oil

Moscow, 30 October 2018. PAO NOVATEK (“NOVATEK” and/or the “Company”) announced that cumulative production at the Yarudeyskoye field owned by the Company’s subsidiary Yargeo, reached a milestone of 10 million tons of crude oil production since the commencement of operations.

The field’s commercial production commenced in December 2015, and by January 2016, the field reached its full productive capacity. The Yarudeyskoye field is the largest crude oil asset in the Company’s portfolio, and is characterized by unique geology, which combined with the application of state-of-the-art drilling and completion technologies allowed us to achieve the average production flow rate of more than 350 tons per day per well.   The field’s average flow rate is one of the highest production output amongst fields producing in Western Siberia.

The field’s production complexity is characterized with high paraffin content (up to 17%) and a high pour point (about +15 °C). NOVATEK's specialists, together with Russian design organizations and research institutes, developed technological solutions that made it possible to optimize the field’s crude oil output and reach its design capacity in minimal time.

PAO NOVATEK is one of the largest independent natural gas producers in Russia, and in 2017, entered the global gas market by successfully launching the Yamal LNG project. Founded in 1994, the Company is engaged in the exploration, production, processing and marketing of natural gas and liquid hydrocarbons. The Company’s upstream activities are concentrated mainly in the prolific Yamal-Nenets Autonomous Region, which is the world’s largest natural gas producing area and accounts for approximately 80% of Russia’s natural gas production and approximately 15% of the world’s gas production. NOVATEK is a public joint stock company established under the laws of the Russian Federation. The Company’s shares are listed in Russia on Moscow Exchange (MOEX) and the London Stock Exchange (LSE) under the ticker symbol “NVTK”.

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