Russia's largest independent natural gas producer Novatek announced that its wholly owned subsidiary OOO Novatek-Yurkharovneftegas, upon testing of the exploration well PO-1 achieved commercial flows of natural gas from the Lower Cretaceous sediments at the Nyakhartinskiy license area with a gas condensate mixture well flow rate of more than 300 thousand cubic meters per day.
Natural gas and gas condensate reserves of the newly discovered Nyakhartinskoye field will be determined after completion of the well test with the reserves appraisal materials submitted to the Russian State Reserves commission for final confirmation in 2019.
The Nyakhartinskoye field is in close proximity to the Company’s Yurkharovskoye field and represents a very important reserve discovery maintaining Novatek’s production in the area of the Unified Gas Supply system.
In 2017, Novatek entered the global gas market by successfully launching the Yamal LNG project. Founded in 1994, the Company is engaged in the exploration, production, processing and marketing of natural gas and liquid hydrocarbons.