NVTK: OAO Novatek: NOVATEK Increased its Stake in Nortgas to 50%
UK Regulatory Announcement
FOR IMMEDIATE RELEASE
NOVATEK INCREASED ITS STAKE IN NORTGAS TO 50%
Moscow, 25 June 2013. OAO NOVATEK (“NOVATEK” and/or the “Company”) announced
today that its equity stake in ZAO Nortgas (“Nortgas”) increased from 49% to
50% as a result of an additional issue of shares. The per share purchase price
of the additional stake is in line with the price paid for the 49% stake in
Nortgas acquired earlier.
Note: Nortgas holds the hydrocarbon production license for the
North-Urengoyskoye field, located in the Nadymskiy and Purovskiy regions of
Yamal-Nenets Autonomous District. The North-Urengoyskoye field has proved
reserves of 157.3bcm of natural gas and 21.1 million tons of liquid
hydrocarbons, as estimated under SEC reserves methodology at 31 December 2012.
During 2012, the field produced 4.2 bcm of natural gas and 426 thousand tons
of unstable gas condensate.
For further information, please visit www.novatek.ru or contact:
Press Service Investor Relations
+7 (495) 721 2207 +7 (495) 730 6013
*** OAO NOVATEK is Russia’s largest independent gas producer and the
second-largest natural gas producer in Russia. Founded in 1994, NOVATEK is
engaged in the exploration, production, processing and marketing of natural
gas and liquid hydrocarbons. Its 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 90% 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.
NOVATEK’s shares and GDRs are listed on MICEX-RTS Stock Exchange in Russia and
the London Stock Exchange (LSE), respectively, under the ticker symbol “NVTK”.
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