NOVATEK reports preliminary operating data for fourth quarter and full
year 2009
OAO Novatek
NOVATEK REPORTS PRELIMINARY OPERATING DATA
FOR FOURTH QUARTER AND FULL YEAR 2009
Moscow, 19 January 2010. OAO NOVATEK today reported
preliminary production and operating data for the fourth quarter and
full year 2009.
Gross production for the fourth quarter 2009 totaled 8.98 billion cubic
meters of natural gas and 834 thousand tons of liquids (gas condensate
and crude oil). Natural gas production increased by 923 million cubic
meters, or by 11.4%, and gross liquids production increased by 126
thousand tons, or by 17.8%, as compared with the corresponding gross
production in the fourth quarter 2008.
In 2009, gross production for NOVATEK totaled 32.78 billion cubic meters
of natural gas and 3,049 thousand tons of liquids. Natural gas
production increased by 1.89 billion cubic meters, or by 6.2%, whereas
gross liquids production increased by 463 thousand tons, or by 17.9%, as
compared with the corresponding gross production in 2008.
During 2009, NOVATEK processed 2,845 thousand tons of unstable
de-ethanized gas condensate at the Purovsky Processing Plant, of which
786 thousand tons was processed in the fourth quarter.
The Company dispatched 36 tanker shipments of stable gas condensate for
export in 2009 as compared to 29 tanker shipments in the corresponding
period of 2008. At 31 December 2009, we had approximately 717 mmcm of
natural gas and 111 thousand tons of stable gas condensate in transit or
storage and recognized as inventory.
NOVATEK’s hydrocarbon production
|
4Q2008
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4Q2009
|
|
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QoQ%
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|
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Gross production
|
|
|
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2008
|
|
|
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2009
|
|
|
|
YoY%
|
|
8.06
|
|
|
8.98
|
|
|
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11.4%
|
|
|
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Natural gas, bcm
|
|
|
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30.88
|
|
|
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32.78
|
|
|
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6.2%
|
|
708
|
|
|
834
|
|
|
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17.8%
|
|
|
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Liquids, mt
|
|
|
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2,586
|
|
|
|
3,049
|
|
|
|
17.9%
|
***
Information provided in this press release presents expected results
of OAO NOVATEK operations in the fourth quarter and full year 2009. 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 2009. ОАО 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.
***
***
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 Region, which
is the world's largest natural gas producing area and accounts for over
90% of Russia's natural gas production and 20% 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 on the
Russian Trading System (RTS) and the London Stock Exchange (LSE) under
the ticker symbol ‘NVTK’ and on the NASDAQ PORTAL System as Rule 144A
GDR under the ticker symbol “NVATY”
