NOVATEK

Regulatory Filings • Sep 14, 2016

National Storage Mechanism | Additional information

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

RNS Number : 8387J

OAO Novatek

14 September 2016

FOR IMMEDIATE RELEASE                                                      

NOVATEK Signs Concession Contract in Montenegro

Moscow, September 14, 2016. Subsidiaries of OAO NOVATEK (NOVATEK) and Eni signed today a concession contract with the Government of Montenegro for the exploration and production of hydrocarbons for four offshore blocks in Montenegro.  Each company will participate in the concession with a 50% share, and Eni was appointed as the Operator.

Blocks 4118-4, 4118-5, 4118-9 and 4118-10, comprising a total area of approximately 1.2 thousand square kilometers, are located in the territorial waters of Montenegro.

Note

In 2014, NOVATEK jointly with Eni submitted a bid for the four offshore blocks with the Government of Montenegro selected the consortium as the best bidder and passed the concession proposal to the Parliament in 2015. In June 2016, the Parliament of Montenegro resolved on concluding the concession contract with NOVATEK and Eni.

***

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

***

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

END

CNTGGUMPBUPQGGC