NOVATEK reports preliminary operating data for the first quarter 2015

April 9, 2015

/Moscow/ OAO NOVATEK (“NOVATEK” and/or the “Company”) reported today preliminary operating data for the first quarter 2015.

NOVATEK’s sales production totaled 16.15 billion cubic meters (bcm) of natural gas and 1,991 thousand tons of liquids (gas condensate and crude oil), resulting in an increase in natural gas production by 0.73 bcm, or by 4.7%, and an increase in combined liquids production by 629 thousand tons, or by 46.2% as compared with the first quarter 2014.
 
The Company processed 2,490 thousand tons of unstable gas condensate at the Purovsky Processing Plant, which represented a 79.8% increase as compared with the corresponding volumes processed in the first quarter 2014.
 
In the first quarter 2015, NOVATEK processed 1,699 thousand tons of stable gas condensate at the Ust-Luga Fractionation and Transshipment Complex, which was 69.1% higher than the volumes processed at the facility in the first quarter 2014.  Preliminary first quarter 2015 product sales volumes aggregated approximately 1,853 thousand tons, including 1,143 thousand tons of naphtha, 261 thousand tons of jet fuel, and 449 thousand tons of fuel oil and gasoil. As the
Ust-Luga Complex achieved full capacity utilization during the period, an additional 34 thousand tons of stable gas condensate was exported from the Port of Ust-Luga in March 2015.
 
At 31 March 2015, NOVATEK had 621 million cubic meters of natural gas and 493 thousand tons of stable gas condensate and petroleum products in storage or transit and recognized as inventory.
 

                                       NOVATEK’s hydrocarbon production  Gross production  

    Gross production

1Q2014

1Q2015

QoQ%

    Natural gas, bcm

15.42

16.15

4.7%

    Liquids, mt

1,362

1,991

46.2%

  

***
Information provided in this press release presents expected results of OAO NOVATEK operations in 1Q 2015. 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 1Q 2015. 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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