Novatek Awarded Russian Gas Concessions

Novatek has been awarded licences to develop four deposits on the Yamal peninsula in the north of the country.

Novatek was the only bidder for the right to develop the Geofizichenskoye, Salmanovskoye (Utrenneye), Severo-Obskoye and Vostochno-Tambeiskoye fields at a June auction that was ruled null and void.

RIA Novosti reported that Prime Minister Vladimir Putin had ordered the government to award the concessions to Russia’s second biggest gas producer.

The new licences adds to the resource base of Novatek in the gas-rich region, where it currently controls the licence for the South Tambey field with proven gas reserves of more than 1.2 trillion cubic metres.