9th Oct 2006 14:42
NOVATEK EXPANDS PRODUCTION CAPACITY Moscow, 9 October 2006. OAO NOVATEK today announced plans to increase theproduction capacity at its Khancheyskoye field and also carry out infrastructureimprovements at its East-Tarkosalinskoye field. Work will be performed from the10th to 17th of October 2006, during which time production will be temporarilysuspended at the two fields. The production stoppage will enable the Company to connect a second gas pipelinefrom the Khancheyskoye field to infrastructure at the East-Tarkosalinskoyefield. The work will include, hydraulic testing and pressure monitoring ofpipelines and equipment. The infrastructure expansion is part of the secondphase of development at the Khancheyskoye field. Upon completion of the secondphase, the production capacity at the Khancheyskoye field will increase to 4.9billion cubic meters of natural gas per annum. NOVATEK will also make improvements to the low temperature separation unit(LTSU) at the East-Tarkosalinskoye field by connecting an air cooling systemthat will enable the LTSU to reach lower temperatures and improve the quality ofseparated gas. Work is also scheduled to overhaul the de-ethanization plant located at theEast-Tarkosalinskoye field to enhance the reliability and quality of itsprocessing capabilities to accommodate future production throughput. The plantprocesses gas condensate produced at both the East-Tarkosalinskoye andKhancheyskoye fields. For further information, please visit www.novatek.ru or contact: \* TPress Service Investor Relations+7 (095) 721 22 07 +7 (095) 730 [email protected] [email protected]\* T OAO NOVATEK is Russia's largest independent gas producer and the second-largestnatural gas producer in Russia. Founded in 1994, the Company is engaged in theexploration, production, processing and marketing of natural gas and liquidhydrocarbons. The Company's upstream activities are concentrated in the prolificYamal-Nenets Region, which is the world's largest natural gas producing area andaccounts for over 90% of Russia's natural gas production and 20% of the world'sgas production. NOVATEK is an open joint stock company established under thelaws of the Russian Federation. The Company's shares are listed on the RussianTrading 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" Copyright Business Wire 2006Related Shares:
NVTK.L