NVTK: OAO Novatek: NOVATEK increased its stake in SeverEnergia to 59.8%
UK Regulatory Announcement
NOVATEK INCREASED ITS STAKE IN SEVERENERGIA TO 59.8%
Moscow, 15 January 2014. OAO NOVATEK (“NOVATEK” or the “Company”) announced
today the completion of a deal by Yamal development (a 50/50 Joint Venture
between OAONOVATEK and OAO GazpromNeft) to acquire a 60% equity stake in
Artic Russia B.V. from the Italian energy company, ENI. Artic Russia B.V. owns
a 49% equity stake in theSeverEnergia Joint Venture.
In addition, on 27 December 2013, NOVATEK and OAO Rosneft completed an asset
swap, whereby NOVATEK’s 51% stake in Sibneftegas was swapped for Rosneft’s 40%
stake in Artic Russia B.V.
Following the completion of the above transactions, NOVATEK’s effective share
in SeverEnergia increased to 59.8%.
Chairman of the Management Board of NOVATEK, Leonid V. Mikhelson commented:
“SeverEnergia has significant potential for increasing natural gas, gas
condensate and crude oil production upon completing the joint venture’s field
development. The Samburgskoye field is currently the only producing field of
this Joint Venture, but we plan to commence commercial production in 2014 at
two other large fields, Urengoyskoye and Yaro-Yakhinskoe, which contain a high
condensate mix in the natural gas stream”.
SeverEnergia holds the development and production licenses for the
Samburgskiy, Yevo-Yakhinskiy, Yaro-Yakhinskiy and North-Chaselskiy license
As at 1 January 2013, recoverable reserves of SeverEnergia under the ABC1+C2
categories of the Russian reserve classification were estimated at 14.3
billion barrels of oil equivalent, including 5.5 billion barrels of liquid
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, 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 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
Press spacebar to pause and continue. Press esc to stop.