Exploration & Production

Novatek wins Beregovoi and Ust-Yamsoveisky licences

Novatek has successfully bid for the Beregovoi and Ust-Yamsoveisky licences.
By Staff reporter 19 February 2018 0 29644

Novatek has successfully bid for a pair of licences formerly owned by diamond-mining firm Alrosa.

The Russian independent bid RUB 30.3 billion ($536.9 million) for the Beregovoi and the Ust-Yamsoveisky concessions, which hold resources estimated at 436 million barrels of oil equivalent (MMboe) and 650 MMboe respectively, according to the Russian resource classification as of 31 December 2017.

Beregovoi produced 1.6 billion cubic metres of gas and 185,000 tons of condensate in 2017.

“One of our priorities […] was to sustain our production levels within reach of the...