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NOVATEK Obtains Gydanskiy Subsoil Licence at the Gydan Peninsula

Source: www.gulfoilandgas.com 6/11/2017, Location: Asia

NOVATEK has announced that its subsidiary 'Arctic LNG-1' has won the bid for a geological survey, exploration and hydrocarbons production licence for the Gydanskiy subsoil area for a term of 27 years. The auction resulted in a one-time payment for the subsoil use in the amount of 2,262 million rubles.

The Company already owns significant resources on the Gydan peninsula including the Utrenneye, Geofizicheskoye and Ladertoyskoye fields, as well as the Trehbugorniy, Nyavuyahskiy, West-Solpatinskiy, Tanamskiy and North-Tanamskiy licence areas.

The Gydanskiy licence area is located in close proximity to Utrenneye field, the field that will serve as the resource base for Arctic LNG-2 project. This new licence area expands the Company's reserve base on the Gydan peninsula as well as allowing the Company to consider significant new long-term LNG projects. The license area's resources according to the Russian classification are 4,740 mmboe of hydrocarbons.

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Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


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