NOVATEK

Regulatory Filings • Jul 27, 2018

National Storage Mechanism | Additional information

You don't have Javascript enabled. For full functionality this page requires javascript to be enabled.

RNS Number : 0641W

PAO Novatek

27 July 2018

FOR IMMEDIATE RELEASE

NOVATEK Spuds First Well at the North-Obskiy License Area

Moscow, 27 July 2018. PAO NOVATEK ("NOVATEK" and/or the "Company") announced that its subsidiary OOO Arctic LNG 3 commenced drilling of the first well at the North-Obskiy license area located in the shallow waters of the Ob Bay. The initial well is drilled using a jack-up floating drilling rig "Amazon" leased from "Gazprom flot". The drilling process is based on zero discharge principle, whereby all of the waste products are collected and transported 125 km to Sabetta onshore base.

"We commenced drilling our first well at the North-Obskiy license area characterized with significant geological potential and favorable location in terms of logistics," - according to Leonid Mikhelson, Chairman of NOVATEK's Management Board. "The license area is in close proximity to the exit from the Ob Bay in its Northern part, which provides the convenient passage of vessels and requires no approach channel. Arctic LNG 3 potentially represents the next stage in implementing NOVATEK's development strategy to increase LNG production in the Russian Arctic region".

***

For further information, please visit www.novatek.ru or contact:

Press Service +7 (495) 721 2207 press@novatek.ru	Investor Relations +7 (495) 730 6013 IR@novatek.ru

***

PAO NOVATEK is one of the largest independent natural gas producers 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 mainly 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 15% of the world's gas production. NOVATEK is a public 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 news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

DRLRRMATMBMTBLP