NOVATEK Reports 2009 Preliminary Operating Data

OREANDA-NEWS. January 21, 2010. OAO NOVATEK today reported preliminary production and operating data for the fourth quarter and full year 2009.

Gross production for the fourth quarter 2009 totaled 8.98 billion cubic meters of natural gas and 834 thousand tons of liquids (gas condensate and crude oil). Natural gas production increased by 923 million cubic meters, or by 11.4%, and gross liquids production increased by 126 thousand tons, or by 17.8%, as compared with the corresponding gross production in the fourth quarter 2008. 

In 2009, gross production for NOVATEK totaled 32.78 billion cubic meters of natural gas and 3,049 thousand tons of liquids. Natural gas production increased by 1.89 billion cubic meters, or by 6.2%, whereas gross liquids production increased by 463 thousand tons, or by 17.9%, as compared with the corresponding gross production in 2008.

During 2009, NOVATEK processed 2,845 thousand tons of unstable de-ethanized gas condensate at the Purovsky Processing Plant, of which 786 thousand tons was processed in the fourth quarter.

The Company dispatched 36 tanker shipments of stable gas condensate for export in 2009 as compared to 29 tanker shipments in the corresponding period of 2008. At 31 December 2009, we had approximately 717 mmcm of natural gas and 111 thousand tons of stable gas condensate in transit or storage and recognized as inventory.

NOVATEK’s hydrocarbon production