NOVATEK Gets Tanamskiy Subsoil License

PAO NOVATEK (NVTK.ME) informed that its subsidiary OOO NOVATEK-Yurkharovneftegas won the bid for a geological survey, exploration and hydrocarbons production license for the Tanamskiy subsoil area for a term of 27 years.

The auction resulted in a one-time payment for the subsoil use in the amount of 467 million rubles.

The Company already owns significant resource base at the Gydan peninsula including Utrenneye, Geofizicheskoye and Ladertoyskoye fields. This is the first time the Company obtains a license area outside the Yamal-Nenets Autonomous Region. Tanamskiy license area is located in the Krasnoyarsk Territory in close proximity to NOVATEK’s licenses on Gydan peninsula, near Nyavuyahskiy, West-Solpatinskiy and North-Tanamskiy license areas and the Ladertoyskoye field.

This new license will allow the Company to expand its reserve base on the Gydan peninsula and to consider significant long-term projects to increase the Company’s production. The license area’s resources according to the Russian classification is 1,245 mmboe of hydrocarbons.