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Russian arctic

Novatek discovers new Arctic field

MOSCOW, October 10, 2018 – Novatek has discovered a new Arctic gasfield in the North-Obskoye offshore licence area in Ob Bay, the Russian independent announced on Wednesday.

 

The field’s total reserves could top 900 bcm (3.18 tcf) of gas and additional condensate resources, the company statement added.

“Under the Russian reserve classification, the North-Obskoye field will be included into the ‘unique’ category in terms of reserves size,” Leonid Mikhelson, chairman of Novatek’s management board, said. “The favourable geographical location of the field, its huge resource base and our accumulated LNG experience are important prerequisites to successfully implement this new LNG project.”

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