OREANDA-NEWS. July 18, 2012. JSC  NOVATEK (‘NOVATEK’ and/or the ‘Company’) today reported preliminary production data for the second quarter and first half 2012.

Gross production for the second quarter totaled 14.04 billion cubic meters of natural gas and 1.04 million tons of liquids (gas condensate and crude oil). Gross natural gas production increased by 1.91 billion cubic meters, or by 15.7%, and gross liquids production increased by seven thousand tons, or by 0.7%, as compared with the corresponding gross production in the second quarter 2011.

In the first half 2012, gross production for NOVATEK totaled 28.70 billion cubic meters of natural gas and 2.13 million tons of liquids. Natural gas production increased by 3.14 billion cubic meters, or by 12.3%, whereas gross liquids production increased by 66 thousand tons, or by 3.2% as compared with the corresponding gross production in the first half 2011.

In the second quarter and first half 2012, NOVATEK processed 989 and 1,981 thousand tons, respectively, of unstable gas condensate at the Purovsky Gas Condensate Processing Plant.

The Company’s preliminary stable gas condensate export volumes amounted to 785 thousand tons for the second quarter 2012 as compared to 753 thousand tons in the corresponding period of 2011. At 30 June 2012, we had approximately 1,051 million cubic meters of natural gas and 295 thousand tons of stable gas condensate in transit or storage and recognized as inventory.