NOVATEK Production Steady

PAO NOVATEK (NVTK.ME) (“NOVATEK” and/or the “Company”) reported today preliminary operating data for the twelve months 2016.

In 2016, NOVATEK’s marketable hydrocarbons production totaled 537.9 million barrels of oil equivalent (boe), including 66.1 billion cubic meters (bcm) of natural gas and 12,441 thousand tons of liquids (gas condensate and crude oil), resulting in an increase in total hydrocarbons production by 16.3 million boe, or by 3.1%, a decrease in natural gas production by 1.8 bcm, or by 2.7%, and an increase in combined liquids production by 3,347 thousand tons, or by 36.8% as compared with the twelve months ended 2015.

The Company processed 12,397 thousand tons of unstable gas condensate at the Purovsky Processing Plant, representing a 3.1% increase as compared with the corresponding volumes processed in 2015.

NOVATEK processed 6,918 thousand tons of stable gas condensate at the Ust-Luga Complex, which was 2.8% higher than the volumes processed at the facility in 2015. Preliminary 2016 petroleum product sales volumes aggregated 6,662 thousand tons, including 4,113 thousand tons of naphtha, 985.6 thousand tons of jet fuel, and 1,563.7 thousand tons of fuel oil and gasoil. Export sales of stable gas condensate amounted to 1,305 thousand tons.

As at 31 December 2016, NOVATEK had 0.8 billion cubic meters of natural gas and 702 thousand tons of stable gas condensate and petroleum products in storage or transit and recognized as inventory.