NOVATEK Reports Preliminary Operating Data For The Third Quarter And Nine Months 2013

11 Oct, 2013, 11:42 ET from OAO NOVATEK

MOSCOW, Oct. 11, 2013 /PRNewswire/ -- OAO NOVATEK ("NOVATEK" and/or the "Company") reported today preliminary production data for the third quarter and nine months 2013.

In the third quarter 2013, NOVATEK's gross production totaled 14.53 billion cubic meters (bcm) of natural gas and 1,143 thousand tons of liquids (gas condensate and crude oil). Gross natural gas production increased by 1.21 billion cubic meters, or by 9.1%, and gross liquids production increased by 147 thousand tons, or by 14.8%, as compared with the corresponding gross production in the third quarter 2012.

In nine months 2013, gross production totaled 45.81 billion cubic meters of natural gas and 3,526 thousand tons of liquids. Natural gas production increased by 3.79 billion cubic meters, or by 9.0%, whereas gross liquids production increased by 401 thousand tons, or by 12.8% as compared with the corresponding gross production in nine months 2012.

NOVATEK processed 1,150 and 3,551 thousand tons of unstable gas condensate at the Purovsky Processing Plant, which represented a 24% and 22% increase as compared with the corresponding volumes in the third quarter and nine months 2012, respectively.

The Company's preliminary stable gas condensate export volumes amounted to 206 thousand tons for the third quarter 2013 as compared to 723 thousand tons in the corresponding period of 2012. The decrease in sales volumes was mainly due to the launch of the Ust-Luga Gas Condensate Fractionation and Transshipment Complex in the second quarter 2013.

In the third quarter 2013, NOVATEK processed 714 thousand tons of stable gas condensate at the Ust-Luga Complex. Preliminary product sales volumes amounted to 690 thousand tons, including 562 thousand tons of naphtha, 73 thousand tons of jet fuel and 55 thousand tons of heating oil and gasoil.

At 30 September 2013, NOVATEK had approximately 2,364 million cubic meters of natural gas and 378 thousand tons of stable gas condensate and its products in storage or transit and recognized as inventory.

NOVATEK's hydrocarbon production




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Information provided in this press release presents expected results of OAO NOVATEK operations in 3Q and 9M 2013. 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 2013. 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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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 MICEX-RTS Stock Exchange and the London Stock Exchange (LSE) under the ticker symbol "NVTK".