Major gas discovery for PAO Novatek offshore Russia
Oct. 12, 2018
PAO Novatek subsidiary OOO Arctic LNG 3 has discovered a large gas/condensate field in the shallow waters of Ob Bay off northern Russia.
Offshore staff
MOSCOW – PAO Novatek subsidiary OOO Arctic LNG 3 has discovered a large gas/condensate field in the shallow waters of Ob Bay off northern Russia.
This was the first exploration well on the North-Obskiy license. The company estimates reserves in the North-Obskoye field at more than 320 bcm, with potential total resources at the drilled well area of above 900 bcm.
It will submit these estimates to the Russian State Reserves commission for confirmation next month.
“The discovery of significant hydrocarbon reserves at the North-Obskoye field is an important starting point for one of our future LNG projects in the Arctic region,” said Leonid Mikhelson, chairman of Novatek’s management board.
“The favorable geographical location of the field, its huge resource base and our accumulated LNG experience are important prerequisites to successfully implement this new LNG project.”
