NOVATEK Commenced Gas Condensate Production at the North-Russkiy Cluster
PAO NOVATEK (“NOVATEK” and/or the “Company”) 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.”