NOVATEK obtains new licence areas

NOVATEK claims that these areas significantly increase its resource base for implementing new LNG projects.

OOO Arctic LNG-2 won the bid for a geological survey, exploration and hydrocarbons production license for the subsoil area, including the Shtormovoye field. The license area is situated on the Gydan peninsula, and is partly offshore in the Gydan and Ob bays in the Kara Sea bordering the company’s Utrennee field. According to the Russian resource classification, the area contains estimated hydrocarbon resources of 7,932 million boe. The license term is 30 years and the auction led to a one-time payment for the subsoil use in the amount of 1,040 million rubles.

OOO NOVATEK-Yurkharovneftegas won the bid for a geological survey, exploration and 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. According to the Russian resource classification, it contains estimated hydrocarbon resources of 8,747 million boe. The license term is 27 years, and the auction led to a one-time payment for the subsoil use in the amount of 6,425 million rubles.

Read the article online at: https://www.lngindustry.com/liquefaction/29082017/novatek-obtains-new-licence-areas/