Russia’s Novatek buys company owning Chernichnoye field

MOSCOW, Dec 11 (PRIME) -- Russian independent gas producer Novatek has acquired Chernichnoye company that owns a license for development of the Cehrnichnoye field in the Yamalo-Nenets Autonomous District with hydrocarbon resources amounting to 179 million barrels of oil equivalent, the company said in a statement on Monday.

Novatek plans to close the purchase from oil company Mangazeya in early 2018. The field is located close to the existing infrastructure of Novatek, the company said.

“We concluded an agreement to acquire another field which will contribute to the company’s resource base and future production connected to the Unified Gas Supply System,” Novatek said citing CEO Leonid Mikhelson.

“Our strategy is focused on acquiring new producing fields to load our processing capacities for a longer time period as well as fully utilize our existing transport infrastructure. This will provide additional economic value and growth of the company’s financial and operational metrics.”

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