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Novatek Says Natural-Gas Reserves Rose 40% Last Year

OAO Novatek, Russia’s second-largest natural gas producer, said reserves jumped 40 percent last year after it found new layers at the Yurkharovskoye deposit and acquired the South Tambeyskoye field.

The Tarko-Sale based company said natural gas under U.S. Securities & Exchange Commission standards rose 40 percent to 967 billion cubic meters in 2009, according to an audit by DeGolyer and MacNaughton.