NOVATEK held a Board of Directors meeting which unanimously approved the acquisition of a 49% equity stake in ZAO “Nortgas”.
All of the necessary corporate approvals have been received to effectively close the deal, as well as receiving the tentative agreement from the Federal Antimonopoly Service of the Russian Federation approving the transaction and Gazprom’s waiver of its pre-emptive rights to acquire the stake.
ZAO Nortgas holds the hydrocarbon production license for the Severo-Urengoyskoye field, located in the Nadym-Pur-Taz and Purovskiy regions of the Yamal-Nenets Autonomous District.
According to international petroleum firm DeGolyer & MacNaughton, the PRMS proved reserves of Nortgas as of 31 December 2011 were appraised at 1.7 billion barrels of oil equivalent. During the first nine months 2012, the Severo-Urengoskoye field produced 3.1 billion cubic meters of natural gas and 320 thousand tons of de-ethanized gas condensate.
[mappress] LNG World News Staff, November 09, 2012; Image: Novatek