NOVATEK AWARDED NEW LICENSES IN KRASNOYARSK TERRITORY

Novatek, the largest independent natural gas producers in Russia, announced obtaining five new licenses on the Krasnoyarsk Territory located in close proximity to the Company’s existing licenses located on the Gydan Peninsula. Novatek-Yurkharovneftegas obtained the right for geological survey licenses for the Khalmeryahskiy, Dorofeevskiy and West-Dorofeevskiy subsoil areas, while Novatek-Tarkosaleneftegas obtained the right for geological survey licenses for the South-Khalmeryahskiy and South-Dorofeevskiy subsoil areas.
The acquisition of five new licenses is in line with the Company’s strategy to expand its resource base on the Yamal and Gydan peninsulas and increase natural gas and liquid hydrocarbon production.
The Krasnoyarsk territory is located in the basin of the Arctic Ocean and lies in the middle of Siberia. It stretches 3,000 km from the Sayan Mountains in the south along the Yenisei River to the Taymyr Peninsula in the north. It borders the Sakha Republic, Irkutsk, the Tuva Republic, the Republic of Khakassia, and Kemerovo, Tomsk, and Tyumen Oblasts, and the Kara Sea and Laptev Sea of the Arctic Ocean in the north.
More than two dozen oil and gas fields have been found. The Vankor Field was discovered in 1988 and officially launched in 2009. The Vankor field has oil reserves 3,800 million barrels (600×106 m3), of which 1,500 million barrels (240×106 m3) are proved reserves, and 95 billion cubic meters of natural gas.
(Source: Novatek – Image Mi-8 helicopter in Vankor field, Krasnoyarsk territory)