Dec 18 (LNGJ) - Novatek, the Yamal LNG plant operator, said its subsidiary Novatek-Yurkharovneftegas won the auction for the geological survey, exploration and production licence for the East-Ladertoyskiy subsoil area located on the Gydan Peninsula in the Yamal-Nenets Autonomous Region of Arctic Russia. The licence area has estimated hydrocarbon resources of 184 billion cubic metres of natural gas and 32 million tons of liquids, or 1.5 billion barrels of oil equivalent, according to the Russian resource classification system. The licence term is 25 years.
The new licence area borders Novatek’s Ladertoyskiy, Nyavuyahskiy, West-Solpatinskiy and Central-Nadoyakhskiy subsoil areas on the Gydan Peninsula, where the company’s Arctic II LNG project is being developed. Novatek said the licence acquisition is in line with the company’s strategy to expand its resource base on the Yamal and Gydan peninsulas.
