NOVATEK REPORTS PRELIMINARY OPERATING DATA FOR FOURTH QUARTER AND FULL YEAR 2012
Moscow, 10 January 2013. OAO NOVATEK (“NOVATEK” and/or the “Company”) reported today preliminary operating data for the fourth quarter and full year 2012.
In the fourth quarter 2012, NOVATEK’s gross production (including share in production by affiliates) totaled 15.30 billion cubic meters of natural gas and 1,162 thousand tons of liquids (gas condensate and crude oil). As a result, the Company’s gross production for 2012 amounted to 57.32 billion cubic meters of natural gas and 4,287 thousand tons of liquids. Natural gas production increased by 3.78 billion cubic meters, or by 7.1% as compared with 2011, whereas liquids production increased by 163 thousand tons, or by 4.0%.
In 2012, NOVATEK processed 4,034 thousand tons of unstable de-ethanized gas condensate at the Purovsky Processing Plant, of which 1,135 thousand tons was processed in the fourth quarter.
Preliminary stable gas condensate export volumes amounted to 2,822 thousand tons in 2012 as compared to 2,981 thousand tons in 2011. As at 31 December 2012, NOVATEK had in transit or storage (recognized as inventory) 461 thousand tons of stable gas condensate compared to 228 thousand tons as at 31 December 2011 largely due to increased hydrocarbon shipments to the Asian Pacific region.
The Company also had 1,099 million cubic meters of natural gas recognized as inventory as at 31 December 2012, of which 1,096 million cubic meters was held in the underground storage facilities.
NOVATEK’s hydrocarbon production
|53.54||57.32||7.1%||Natural gas, bcm||14.53||15.30||5.3%|
Information provided in this press release presents expected results of OAO NOVATEK operations in 2012. 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 2012. OAO NOVATEK assumes no obligation (and expressly declares that it has no such obligation) to update or change any declarations concerning any future results, both due to new information obtained, any future events or for any other reasons.
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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 symbol “NVTK”.