NOVATEK reports preliminary operating data for first quarter 2013
MOSCOW, April 3, 2013
MOSCOW, April 3, 2013 /PRNewswire/ --OAO NOVATEK ("NOVATEK" and/or the
"Company") today reported preliminary natural gas production data for the
first quarter 2013.
Gross natural gas production for the first quarter totaled 16.1 billion cubic
meters ('bcm'), which is 9.7% higher than the corresponding gross production
in the first quarter 2012. Gross natural gas production in March 2013 totaled
5.54 bcm, representing a 12.1% increase as compared with the corresponding
gross production in March 2012.
The main increase in our production levels was due to the launch of the fourth
stage of Phase Two development at the Yurkharovskoye field in October 2012.
The growth was also supported by the launch of the second phase of the
Samburgskoye field, which is being developed by OOO SeverEnergia (NOVATEK's
share is 25.5%) and the acquisition of a 49% equity stake in ZAO Nortgas,
which is producing gas and liquids at the North-Urengoyskoye field.
Information provided in this press release presents expected results of OAO
NOVATEK operations in the first quarter 2013. The information represents
preliminary assessment only, which can be adjusted after statistical,
financial, fiscal and business reporting becomes available. The information on
NOVATEK's operational results in this press release depends on many external
factors and therefore, provided all permanent obligations imposed by the
London Stock Exchange listing rules are unconditionally observed, cannot
qualify for accuracy and completeness and should not be regarded as an
invitation for investment. Therefore, the results and indicators actually
achieved may significantly differ from any declared or forecasted operational
results in 2013. NOVATEK assumes no obligation (and expressly declares that it
has no such obligation) to update or change any declarations concerning any
future results, either due to new information obtained, and any future events
or for any other reasons.
OAO NOVATEK is Russia's largest independent gas producer and the
second-largest natural gas producer in Russia. Founded in 1994, the Company is
engaged in the exploration, production, processing and marketing of natural
gas and liquid hydrocarbons. The Company's upstream activities are
concentrated in the prolific Yamal-Nenets Autonomous Region, which is the
world's largest natural gas producing area and accounts for approximately 84%
of Russia's natural gas production and approximately 17% of the world's gas
production. NOVATEK is an open joint stock company established under the laws
of the Russian Federation. The Company's shares are listed in Russia on
MICEX-RTS Stock Exchange and the London Stock Exchange (LSE) under the ticker
SOURCE OAO Novatek
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