10th Jul 2014 08:00
NOVATEK REPORTS PRELIMINARY OPERATING DATA FOR SECOND QUARTER AND FIRST HALF 2014
Moscow, 10 July 2014. OAO NOVATEK (“NOVATEK” and/or the “Company”) reported today preliminary operating data for the second quarter and first half 2014.
In the second quarter 2014, NOVATEK’s gross production totaled 15.59 billion cubic meters (bcm) of natural gas and 1,356 thousand tons of liquids (gas condensate and crude oil), resulting in an increase in natural gas production by 2.6% and an increase in combined liquids production by 13.2%, as compared with the second quarter 2013.
In the first half 2014, NOVATEK’s gross production totaled 31.30 bcm of natural gas and 2,726 thousand tons of liquids (gas condensate and crude oil). The Company produced almost the same level of natural gas as in the prior period but increased the combined liquids production by 14.4%, as compared with the first half 2013.
For the reporting periods, natural gas production was affected due to the disposal of the Company’s equity share in Sibneftegas at the end of 2013. Excluding the natural gas produced by Sibneftegas, NOVATEK’s natural gas production increased by 9.9% in the first half 2014 and by 12.8% in the second quarter 2014 as compared with the respective periods in 2013.
In the second quarter and first half 2014, NOVATEK processed 1,430 and 2,816 thousand tons, respectively, of unstable gas condensate at the Purovsky Processing Plant, representing an increase in liquid volumes processed by 18.1% and 17.3%, as compared with the respective periods in 2013.
In the second quarter 2014, NOVATEK processed 1,037 thousand tons of stable gas condensate at the Ust-Luga Fractionation and Transshipment Complex launched in June 2013, and in the first half 2014, the Company processed 2,041 thousand tons of stable gas condensate at the Ust-Luga Complex. Preliminary second quarter 2014 product sales volumes aggregated approximately 1,090 thousand tons, including 890 thousand tons of naphtha, 102 thousand tons of jet fuel, and 98 thousand tons of heating oil and gasoil.
At 30 June 2014, NOVATEK had 1,589 mmcm of natural gas and 357 thousand tons of stable gas condensate and its products in storage or transit and recognized as inventory.
NOVATEK’s hydrocarbon production
| 2Q2013 | 2Q2014 | YoY% | Gross production | 1H2013 | 1H2014 | HoH% | |||||||
| 15.19 | 15.59 | 2.6% | Natural gas, bcm | 31.29 | 31.30 | 0.0% | |||||||
| 1,198 | 1,356 | 13.2% | Liquids, mt | 2,383 | 2,726 | 14.4% | |||||||
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Information provided in this press release presents expected results of OAO NOVATEK operations in the second quarter and first half 2014. 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 the second quarter and first half 2014. 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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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 90% 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 Moscow Exchange (MOEX) and the London Stock Exchange (LSE) under the ticker symbol «NVTK».
Copyright Business Wire 2014
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