OREANDA-NEWS. On April 23, 2007 OAO NOVATEK held its Strategy Day presentation at the Company’s London representative office. NOVATEK updated its guidance for achieving its strategic targets for 2010 and provided additional guidance for 2015, reported the press-centre of NOVATEK.

NOVATEK’s Strategy Day focused on the following key points:
Investment into upstream assets to increase reserves and production
Investment into gas condensate processing capacity
Optimization of marketing channels
Consideration of value added projects in complimentary business segments
Updates to financial guidance and targets.


NOVATEK reiterated its production guidance for 2010 of 45 billion cubic meters (bcm) of natural gas and 4,6 million tons (mmt) of liquids (gas condensate and crude oil). The Company also plans to increase the processing capacity at its wholly-owned Purovsky Gas Condensate processing plant to 5 mmt per annum by the end of 2008.  In addition, the Company has extended its operational guidance up to 2015.  Based on the increased gas condensate processing capacity and further upstream investment, mainly in the fields of Yurkharovneftegas, the Company plans to produce up to 65 bcm of natural gas and 8 to 9 mmt of liquids by 2015. NOVATEK plans to continue growing its core exploration and production segment and also seek opportunities in downstream and complimentary sectors. NOVATEK’s Strategy Day presentation can be found on the Company’s website:  www.novatek.ru.