Novatek’s second-quarter production up

Novatek's second-quarter production upImage courtesy of Novatek

Novatek reported a 13.1 percent increase in total hydrocarbons production during the second quarter of 2019. 

In the second quarter 2019, the company’s hydrocarbon production totaled 149.0 million barrels of oil equivalent (boe), including 18.91 billion cubic meters (bcm) of natural gas and 3,035 thousand tons of liquids (gas condensate and crude oil), resulting in an increase in total hydrocarbons produced by 17.2 million boe compared with the second quarter 2018.

In the first half 2019, Novatek’s’s hydrocarbon production totaled 296.1 million boe, including 37.57 bcm of natural gas and 6,022 thousand tons of liquids, resulting in an increase in total hydrocarbons produced by 31.8 million boe, or by 12.0 percent as compared to the first half 2018.

Preliminary second quarter 2019 natural gas sales volumes, including volumes of LNG sold, aggregated 18.74 bcm, representing an increase of 23.7 percent as compared with the corresponding period in 2018. Natural gas volumes sold in the Russian Federation in the second quarter 2019 were 15.11 bcm, whereas volumes of LNG sold on international markets amounted to 3.63 bcm.

In the second quarter and first half 2019, the company processed 2,697 and 5,390 thousand tons, respectively, of unstable gas condensate at the Purovsky Processing Plant, representing a decrease in processed volumes by 3.3 percent and 2.9 percent, as compared with the corresponding periods in 2018.

In the second quarter and first half 2019, Novatek processed 1,698 and 3,463 thousand tons, respectively, of stable gas condensate at the Ust-Luga Complex, which was 4.3 percent and 2.4 percent lower as compared with the corresponding periods in 2018.

According to preliminary data in the second quarter 2019, petroleum product sales volumes aggregated 1,841 thousand tons, including 1,221 thousand tons of naphtha, 278 thousand tons of jet fuel, and 342 thousand tons of fuel oil and gasoil. The company sold 1,214 thousand tons of crude oil and 396 thousand tons of stable gas condensate.

As at June 30, 2019, Novatek had 1.4 billion cubic meters of natural gas, including LNG, and 629 thousand tons of stable gas condensate and petroleum products in storage or transit and recognized as inventory.

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Posted on July 12, 2019 with tags .

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