11th Oct 2010 14:00
FOR IMMEDIATE RELEASE
NOVATEK REPORTS PRELIMINARY OPERATING DATA FOR THIRD QUARTER AND NINE MONTHS 2010
Moscow, 11 October 2010. OAO NOVATEK ("NOVATEK" and/or the "Company") today reported preliminary production data for the third quarter and nine months 2010.
Gross production for the third quarter totaled 8.50 billion cubic meters of natural gas and 893 thousand tons of liquids (gas condensate and crude oil). Gross natural gas production increased by 633 million cubic meters, or by 8.0%, and gross liquids production increased by 152 thousand tons, or by 20.5%, as compared with the corresponding gross production in the third quarter 2009.
In the first nine months of 2010, gross production for NOVATEK totaled 26.89 billion cubic meters of natural gas and 2.64 million tons of liquids. Natural gas production increased by 3.10 billion cubic meters, or by 13.0%, whereas gross liquids production increased by 426 thousand tons, or by 19.2% as compared with the corresponding gross production in the first nine months of 2009.
In the third quarter and first nine months of 2010, NOVATEK processed 812 and 2,461 thousand tons, respectively, of unstable gas condensate at the Purovsky Gas Condensate Processing Plant.
The Company dispatched twelve tanker shipments for export in the third quarter 2010 as compared to eight tanker shipments in the corresponding period 2009. At 30 September 2010, we had 1,031 million cubic meters of natural gas and 206 thousand tons of stable gas condensate in transit or storage and recognized as inventory.
NOVATEK's hydrocarbon production
| 3Q2009 | 3Q2010 | QoQ% | Gross production | 9M2009 | 9M2010 | YoY% | |||||||
| 7.87 | 8.50 | 8.0% | Natural gas, bcm | 23.79 | 26.89 | 13.0% | |||||||
| 741 | 893 | 20.5% | Liquids, mt | 2,214 | 2,640 | 19.2% |
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Information provided in this press release presents expected results of OAO NOVATEK operations in 2010. 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 2010. • 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.
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 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), MICEX 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 2010
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