NOVATEK

Regulatory Filings • Jun 30, 2016

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RNS Number : 8482C

OAO Novatek

30 June 2016

FOR IMMEDIATE RELEASE                                                      

NOVATEK Obtains New License Areas on the Gydan Peninsula

Moscow, 30 June 2016. OAO NOVATEK (NOVATEK and/or the Company) announced today that its subsidiary OOO NOVATEK-Yurkharovneftegas obtained the right to explore and appraise licenses for the West-Solpatinskiy, North-Tanamskiy and Nyavuyahskiy license areas located in the Yamal-Nenets Autonomous Region in the central part of the Gydan peninsula. The license duration is seven years.

As of 1 January 2016, the recoverable resources for the license areas under the Russian reserve classification methodology aggregate approximately 560 billion cubic meters of natural gas and about 57 million tons of liquid hydrocarbons.

The Chairman of NOVATEK's Management Board Leonid Mikhelson noted: "We continue to expand our resource base in the Gydan peninsula as an important element in our long-term development strategy.  In 2017, we plan to launch the first LNG train at the Yamal LNG project, and we are actively studying the region's geological potential for implementing future LNG projects".

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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

press@novatek.ru                                                       ir@novatek.ru

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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 80% of Russia's natural gas production and approximately 16% 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».

This information is provided by RNS

The company news service from the London Stock Exchange

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