The Arkticheskoye and Neytinskoye fields have combined estimated hydrocarbon reserves of 2.9 billion barrels of oil equivalent (boe), including 413 billion m3 of natural gas and 28 million tons of liquids, according to the Russian hydrocarbon classification system.
The license terms are for 27 years and resulted in cumulative one-time payments for the subsoil use of $180 million.
The new license areas are located in close proximity to NOVATEK’s existing assets on the Yamal Peninsula and expand the company’s resource base for implementing LNG projects.
Novatek is Russia’s largest private natural gas extractor and LNG producer.
It has a top asset - the Yamal LNG production facility.
The giant is also going ahead with the construction of Arctic LNG 2, its 2nd Yamal plants.
It has a top asset - the Yamal LNG production facility.
The giant is also going ahead with the construction of Arctic LNG 2, its 2nd Yamal plants.
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