PAO NOVATEK has announced that its wholly owned subsidiary, Arctic LNG 1, has won the auction for the geological survey, exploration and production license for the subsoil area including the Soletsko-Khanaveyskoye field located on the Gydan peninsula in Yamal-Nenets Autonomous Region.
According to the statement, the license area has estimated hydrocarbon resources of 2183 billion m3 of gas and 212 million t of liquids, or 16 billion bbl of oil equivalent according to the Russian resource classification system. NOVATEK claims the license term is 27 years, and the auction resulted in one-time payment for the subsoil use in the amount of RR 2586 million.
The new license area borders NOVATEK’s Trekhbugorniy and Gydanskiy license areas on the Gydan peninsula, and enables the creation of the resource base for the next LNG project similar to Arctic LNG 2, with liquefaction trains to be located at the Utrenniy terminal.