A Review of the Nigerian Energy Industry

Novatek expands resource base for Arctic LNG 2

 

A picture shows the logo of Russian gaz producer Novatek during the World Gas Conference exhibition in Paris on June 2, 2015. AFP PHOTO / ERIC PIERMONT (Photo credit should read ERIC PIERMONT/AFP/Getty Images)

19 September 2018, News Wires — Russia’s largest independent natural gas producer Novatek said two new hydrocarbon deposits were discovered at the Utrenneye field owned by its unit Arctic LNG 2.

The discovery was made during the drilling and testing of the well #294 and commercial viability has been confirmed, Novatek said in its statement.

The two new deposits’ reserves under the Russian reserve classification are estimated at 405 billion cubic meters (bcm) of natural gas and 40 million tons of gas condensate.

The Utrenneye field is located in the Gydan peninsula in the Yamal-Nenets Autonomous District.

As of December 31, 2017, the Utrenneye field’s reserves under the Russian reserve classification totaled more than 1.5 trillion cubic meters of natural gas and 65 million tons of liquids.

“The natural gas reserves of the Utrenneye field including discovering of new deposits amount to about 2 trillion cubic meters,” said Novatek’s head Leonid Mikhelson.

He added that the new deposits expand the reserve potential of the field and open additional opportunities for implementing the Arctic LNG 2 project.

 

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