Novatek expands LNG projects’ resource base

Novatek expands LNG projects' resource base

Russia’s largest independent natural gas producer Novatek has expanded its resource base for implementing its new liquefied natural gas (LNG) projects. 

The company said on Friday its two units, Arctic LNG-2 and Novatek-Yurkharovneftegas obtained new license areas in the Yamal and Gydan peninsulas.

Arctic LNG-2 won the bid for a geological survey, exploration and hydrocarbons production license for the subsoil area including the Shtormovoye field, for a term of 30 years.

The license area is located on the Gydan peninsula and is partly offshore in the Gydan and Ob bays in the Kara Sea bordering the company’s Utrennee field and contains estimated hydrocarbon resources of 7,932 mmboe according to the Russian resource classification.

Novatek-Yurkharovneftegas won the bid for a geological survey, exploration and a 27-year hydrocarbons production license for the subsoil area including the Verhnetiuteyskoye and the West-Seyakhinskoye fields.

The license area is located on the Yamal peninsula in close proximity to the South-Tambeyskoye field and contains estimated hydrocarbon resources of 8,747 mmboe according to the Russian resource classification.

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