(AGENPARL) - Roma, 23 Gennaio 2023(AGENPARL) – lun 23 gennaio 2023 NOVATEK’s 2022 Reserve Replacement Reached 282%
Moscow, 23 January 2023. PAO NOVATEK (“NOVATEK” and/or the “Company”) today announced that independent petroleum engineers, Advantage Energy (Russia), have completed their comprehensive appraisal of the Company’s hydrocarbon reserves as of 31 December 2022.
Total SEC proved reserves, including the Company’s proportionate share in joint ventures, aggregated 17,571 million barrels of oil equivalent (boe), including 2,431 billion cubic meters (bcm) of natural gas and 194 million metric tons (mmt) of liquid hydrocarbons. Total proved reserves increased by 7.1% as compared to year-end 2021, representing a reserve replacement ratio* of 282% for the year.
In 2022, the Company continued its systemic efforts to commence production of new reserves, boosting the share of proved developed reserves by 6% to further monetize its resource base.
NOVATEK carries on with its active exploration in the Gydan and Yamal peninsulas, which will contribute to future growth of proved reserves under the international standards.
The Company’s reserves were positively impacted by successful exploration at the Gydanskoye, South-Tambeyskoye, Verkhnetiuteyskoye, and the North-Chaselskoye fields, production drilling at the Utrenneye, South-Tambeyskoye, North-Russkoyefields and the Urengoyskoye field within Samburgskiy, Yevo-Yakhinskiy, Ust-Yamsoveyskiy, Olimpiyskiy license areas, acquisition of new licenses in auctions (the Arkticheskoye and the Neytinskoye fields), and the increase of ownership stake in Terneftegas to 100%.
Compared to the end of 2021, NOVATEK’s total proved plus probable reserves under the PRMS reserves reporting methodology, including the Company’s proportionate share in joint ventures, increased by 2.6% and aggregated 29,726 million boe, including 4,069 bcm of natural gas and 359 mmt of liquid hydrocarbons.
NOVATEK reserves according to international standards
Proved reserves under the SEC methodology
Proved plus Probable reserves under the PRMS methodology
Natural gas, bcm
2,431
2,261
4,069
3,948
Liquid hydrocarbons, mmt
Total hydrocarbon reserves, million boe
17,571
16,409
29,726
28,970
Reserves to production (R/P) ratio**
* Reserve Replacement Ratio represents the change in reserves, increased by production during the year, divided by total production for the same year.
** R/P ratio represents total reserves at year-end divided by total production for the same year.
Information provided in this press release represents expected results of PAO NOVATEK operations in 2022. The information represents preliminary assessment only, which can be adjusted after statistical, financial, fiscal and business reporting becomes available. The information on PAO NOVATEK’s operational results in this press release depends on many external factors and therefore, provided all permanent obligations imposed by the London Stock Exchange listing rules are unconditionally observed, cannot qualify for accuracy and completeness and should not be regarded as an invitation for investment. Therefore, the results and indicators actually achieved may significantly differ from any declared or forecasted results in 2022. PAO NOVATEK assumes no obligation (and expressly declares that it has no such obligation) to update or change any declarations concerning any future results, due to new information obtained, any future events or for any other reasons.
For further information, please visit: http://www.novatek.ru
Press Service
Investor Relations
NOVATEK is one of the largest independent natural gas producers in Russia and in 2017 the Company entered the global LNG market with a successful launch of the Yamal LNG Project. Founded in 1994, the Company is engaged in the exploration, production, processing and marketing of natural gas and liquid hydrocarbons. NOVATEK’s fields and license areas are mainly located in the Yamal-Nenets Autonomous Area, the world’s largest natural gas producing region that accounts for about 80% of Russia’s and approximately 15% of the world’s natural gas production. NOVATEK is a public joint stock company established under the laws of the Russian Federation.
Testo Allegato:
FOR IMMEDIATE RELEAS
E
NOVATEKâs 2022 Reserve Replacement Reached
282%
Moscow,
23
January 2023.
PAO NOVATEK (âNOVATEKâ and/or the âCompanyâ) today
announced that independent petroleum engineers, Advantage Energy (Russia), have completed
their comprehensive appraisal of the Companyâs hydrocarbon reserves as of
31
December
2022.
Total SEC proved reser
ves, including the Companyâs proportionate share in joint ventures,
aggregated 17,571 million barrels of oil equivalent (boe), including 2,431 billion cubic meters
reserves increased by 7.1% as compared to year
–
end 2021, representing a reserve replacement
ratio* of 282% for the year.
In 2022, the Company continued its systemic efforts to commence production of new reserves,
boosting the share of proved developed reserves by 6% to further monetize its resource base.
NOVATEK carries on with its active exploration in the Gydan and Yamal
p
eninsulas, which
will contribute to future growth of proved reserves under the international standards.
The Companyâs reserves were positively impacted by successful exploration at the
Gydanskoye, South
–
Tambeyskoye, Verkhnetiuteyskoye, and the North
–
Chase
lskoye fields,
production drilling at the Utrenneye, South
–
Tambeyskoye, North
–
Russkoye
fields
and the
Urengoyskoye field
within
Samburgskiy, Yevo
–
Yakhinskiy, Ust
–
Yamsoveyskiy, Olimpiyskiy
license areas, acquisition of new licenses in auctions (the Arktiche
skoye and the Ne
y
tinskoye
fields), and the increase of ownership stake in Terneftegas to 100%.
Compared to the end of 2021, NOVATEK
â
s total proved plus probable reserves under the
PRMS reserves reporting methodology, including the Companyâs proportionate s
hare in joint
ventures, increased by 2.6% and aggregated 29,726
million boe, including 4,069 bcm of natural
gas and 359 mmt of liquid hydrocarbons.
NOVATEK reserves according to international standards
Proved reserves
under the SEC
methodology
Proved plus
Probable
reserves under the
PRMS methodology
2022
2021
2022
2021
Natural gas, bcm
2,431
2,261
4,069
3,948
Liquid hydrocarbons, mmt
194
189
359
363
Total hydrocarbon reserves,
million boe
17,571
16,409
29,726
28,970
Reserves to production (R/P)
ratio**
28
26
47
46
* Reserve Replacement Ratio represents the change in reserves, increased by production during the year, divided
by total production for the same year.
** R/P ratio represents total reserves at year
–
end divided by total production for
the same year.
***
Information provided in this press release represents expected results of PAO NOVATEK
operations in 2022. The information represents preliminary assessment only, which can be
adjusted after statistical, financial, fiscal and business re
porting becomes available. The
information on PAO NOVATEKâs operational results in this press release depends on many
external factors and therefore, provided all permanent obligations imposed by the London
Stock Exchange listing rules are unconditionally
observed, cannot qualify for accuracy and
completeness and should not be regarded as an invitation for investment. Therefore, the results
and indicators actually achieved may significantly differ from any declared or forecasted
results in 2022. PAO NOVATEK
assumes no obligation (and expressly declares that it has no
such obligation) to update or change any declarations concerning any future results, due to
new information obtained, any future events or for any other reasons.
***
For further information, please visit:
http://www.novatek.ru
Press Service
Investor Relations
+7 (495) 721 2207
+7 (495) 730 6013
***
NOVATEK is one of the largest independent natural gas producers in Russia and in 2017 the
Company entered the global LNG market with a successful launch of the Yamal LNG Project.
Founded in 1994, the Company is engaged in the exploration, production, proce
ssing and
marketing of natural gas and liquid hydrocarbons. NOVATEK’s fields and license areas are
mainly located in the Yamal
–
Nenets Autonomous Area, the worldâs largest natural gas
producing region that accounts for about 80% of Russiaâs and approximatel
y 15% of the
worldâs natural gas production. NOVATEK is a public joint stock company established under
the laws of the Russian Federation.
