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PAO Novatek (NVTK)

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Thursday 06 June, 2019

PAO Novatek

NOVATEK and Gazprom Neft Sign Agreement on Arctic

RNS Number : 4389B
PAO Novatek
06 June 2019
 

 

 

FOR IMMEDIATE RELEASE

 

NOVATEK and Gazprom Neft Sign Agreement of Joint Arctic Development

 

Saint-Petersburg, 6 June 2019. As part of today's Saint-Petersburg International Economic Forum, PAO NOVATEK ("NOVATEK" and/or the "Company") and PAO Gazprom Neft ("Gazprom Neft") signed an Agreement of Intent on Arctic Projects ("Memorandum"). The document provides for establishing a joint venture to explore and develop Arctic hydrocarbon fields.

 

"Gazprom Neft has been our reliable partner for many years.  Together, we successfully launched our joint venture Arcticgas, which offered unique challenges in developing deeper producing horizons," noted Leonid Mikhelson, NOVATEK's Chairman of the Management Board. "Our experience of working together creates a solid base for expanding our mutually beneficial cooperation in the Arctic zone".

  

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For further information, please visit www.novatek.ru or contact:

Press Service
+7 (495) 721 2207
[email protected]

Investor Relations
+7 (495) 730 6013
[email protected]

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PAO NOVATEK is the largest independent natural gas producer in Russia, and in 2017, entered the global gas market by successfully launching the Yamal LNG project. Founded in 1994, the Company is engaged in the exploration, production, processing and marketing of natural gas and liquid hydrocarbons. The Company's upstream activities are concentrated mainly in the prolific Yamal-Nenets Autonomous Region, which is the world's largest natural gas producing area and accounts for approximately 80% of Russia's natural gas production and approximately 15% of the world's gas production. NOVATEK is a public joint stock company established under the laws of the Russian Federation. The Company's shares are listed in Russia on Moscow Exchange (MOEX) and the London Stock Exchange (LSE) under the ticker symbol "NVTK".


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