One more reason for pride. NOVATEK extracted one trillion cubic meters of gas
14:46 17 марта 2020
Категории: News in English
NOVATEK reports that the amount of accumulated gas extraction since the beginning of development of its extractive fields has amounted to one trillion cubic meters. The company started extracting natural gas in 1998 with commissioning of the first gas treatment unit in the Vostochno-Tarkosalinskoye field.
The company then moved on to development of deep-lying condensate reservoirs. According to the information given to the news agency “Sever-Press” in the press-service of NOVATEK, it required use of the newest technologies, including drilling of deep horizontal wells of the large diameter with multistage hydraulic fracturing. The amount of natural gas extracted by the company’s subsidiaries and joint ventures showed the strong growth; and after the successful launch of the project “Yamal LNG” in 2017 NOVATEK transformed itself from a gas supplier to the Russian domestic market into a global player in the LNG market.
“Today NOVATEK is one of the largest producers of natural gas in the world. During 25 years since the company was founded we have achieved a lot, and one trillion cubic meters of accumulated gas extraction is one more reason for pride. We laid the solid foundation for our business, first on the domestic market and now on the international one, with the launch of “Yamal LNG” that is one of the most competitive projects in the industry”, said Leonid Mikhelson, the chairman of the board of NOVATEK. – “Our main competitive advantages are: high-quality resource base and availability of reserves for many years to come in combination with low operating expenditures, as well as our highly professional team capable of solving the most complex tasks”.
NOVATEK is the largest independent producer of natural gas in Russia. In 2017 the company entered the international LNG market due to the successful launch of the project “Yamal LNG”. Extractive fields and license areas of NOVATEK are located primarily in Yamal-Nenets Autonomous Okrug.