Novatek Wins New Russian Licences

Independent Russian gas producer Novatek (NVTK.ME) and LNG operator Novatek has secured the right to explore on the Krasnoyarsk Territory.

Russia’s largest LNG producer said in a press release that it has obtained five new licenses on the Krasnoyarsk Territory located in close proximity to its existing licenses on the Gydan Peninsula.

Novatek -Yurkharovneftegas obtained the right for geological survey licenses for the Khalmeryahskiy, Dorofeevskiy and West-Dorofeevskiy subsoil areas, while Novatek -Tarkosaleneftegas obtained the right for geological survey licenses for the South-Khalmeryahskiy and South-Dorofeevskiy subsoil areas.

The acquisition of five new licenses is in line with the Company’s strategy to expand its resource base on the Yamal and Gydan peninsulas and increase natural gas and liquid hydrocarbon production.