NVTK: OAO Novatek: Novatek and Gazprom Neft Increase Their Stakes in Severenergia

  NVTK: OAO Novatek: Novatek and Gazprom Neft Increase Their Stakes in
  Severenergia

UK Regulatory Announcement

MOSCOW

                           NOVATEK AND GAZPROM NEFT

                    INCREASE THEIR STAKES IN SEVERENERGIA

Moscow, 20 November 2013. Yamal Development (a 50/50 Joint Venture between
OAONOVATEK and OAO Gazprom neft) signed a binding agreement with the Italian
energy company, Eni on acquiring a 60% equity stake in Artic Russia B.V.,
which owns 49% of theSeverEnergia Joint Venture. The value of the transaction
is USD 2,940 million.

The transaction is subject to receipt of necessary approvals. Following
completion of the transaction, the effective share of Yamal Development in
SeverEnergia will increase to 80.4%.

Note

SeverEnergia holds development and production licenses for the Samburgskiy,
Yevo-Yakhinskiy, Yaro-Yakhinskiy and North-Chaselskiy license areas.

As at 1 January 2013, the recoverable reserves of SeverEnergia under the
ABC1+C2 categories of the Russian reserve classification were estimated at
1.35 trillion cubic meters of natural gas and 699 million tons of liquid
hydrocarbons.

                                     ***

For further information, please visit www.novatek.ru or contact:

Press Service       Investor Relations

+7 (495) 721 2207  +7 (495) 730 6013

press@novatek.ru    ir@novatek.ru

                                     ***

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 armarke
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. The Company’s shares are listed in Russia on
MICEX-RTS Stock Exchange and the London Stock Exchange (LSE) under the ticker
symbol «NVTK».

Contact:

OAO Novatek
 
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