10th Apr 2012 15:48
FOR IMMEDIATE RELEASE
NOVATEK REPORTS PRELIMINARY OPERATING DATA
FOR FIRST QUARTER 2012
Moscow, 10 April 2012. OAO NOVATEK ("NOVATEK" and/or the "Company") today reported preliminary production data for the first quarter 2012.
Gross production for the first quarter totaled 14.66 billion cubic meters of natural gas and 1.08 million tons of liquids (gas condensate and crude oil). Gross natural gas production increased by 1.23 billion cubic meters, or by 9.2%, and gross liquids production increased by 59 thousand tons, or by 5.8%, as compared with the corresponding gross production in the first quarter 2011.
In the first quarter 2012, NOVATEK processed 992.5 thousand tons of unstable gas condensate at the Purovsky Gas Condensate Processing Plant.
The Company's preliminary stable gas condensate export volumes amounted to 623 thousand tons for the first quarter 2012 as compared to 723 thousand tons in the corresponding period of 2011. At 31 March 2012, we had approximately 1.4 million cubic meters of natural gas and 352 thousand tons of stable gas condensate in transit or storage and recognized as inventory.
NOVATEK hydrocarbon production for the first quarters 2011 and 2012
| Gross production | 1Q2011 | 1Q2012 | Q-o-Q% | ||||
| Natural gas, bcm | 13.43 | 14.66 | 9.2% | ||||
| Liquids, mt | 1,025 | 1,084 | 5.8% |
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Information provided in this press release presents expected results of OAO NOVATEK operations in the first quarter 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. • 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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For further information, please visit www.novatek.ru or contact:
| Press Service | Investor Relations | |
| +7 (495) 721 2207 | +7 (495) 730 6013 | |
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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" and on the NASDAQ PORTAL System as Rule 144A GDR under the ticker symbol "NVATY".
Copyright Business Wire 2012
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