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NOVATEK Acquires South-Khadyryakhinskoye & Eurotek

Source: www.gulfoilandgas.com 12/6/2017, Location: Asia

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NOVATEK has announced the acquisition of South-Khadyryakhinskoye and Eurotek from AR Oil & Gas, a joint venture of Neftegazholding and Repsol.

South-Khadyryakhinskoye holds the hydrocarbon exploration and production license for the South-Khadyryakhinskiy license area located in close proximity to infrastructure of the North-Khancheyskoye field developed by NOVATEK’s subsidiary. The license contains estimated hydrocarbon resources of 228 mmboe according to the Russian resource classification as of 31 December 2016.

Eurotek holds the hydrocarbon exploration and production license for the Syskonsynyinskiy license area located in the Khanty-Mansiysk Autonomous Region, 120 km to the North-West of the town of Nyagan. The license contains estimated hydrocarbon resources of 48 mmboe according to the Russian resource classification as of 31 December 2016, and produced 799 million cubic meters of natural gas and 6.6 thousand tons of gas condensate during 2016.

According to NOVATEK’s Chairman of the Management Board, Leonid Mikhelson: 'The acquisition of the new assets will make a contribution to the Company’s total production and will increase the resource base in the core area of our operations. We continue to work actively to increase production volumes in the area of the Unified Gas Supply System which is one of NOVATEK’s strategic priorities'.

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Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


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