Novatek has commenced the final stage of Phase Two development at its wholly-owned Yurkharovskoye field. The Yurkharovskoye field is located within the Polar Circle southeast of the Tazovsky peninsula. As part of the Company's capital investment program, two additional processing trains for separating natural gas were launched at the field, thus increasing the Yurkharovskoye field's annual productive capacity to approximately 33 billion cubic meters of natural gas and approximately three million tons of unstable gas condensate.

According to Novatek's CEO, Leonid Mikhelson, "The Company has been consistent in its focused approach to implementing its strategy to increase hydrocarbon production and processing capacities as evidenced by our successes at the Yurkharovskoye field. Moreover, the field's development program has become a platform for implementing new drilling, production and processing technologies, as well as innovative solutions, which may be applied to our new and future projects."

Tags: NOVATEK