Arctic LNG 1, a wholly owned subsidiary of PAO NOVATEK, completed testing of the first prospecting well within the Bukharinskiy license area on the Gydan Peninsula in Russia's Yamal-Nenets Autonomous Region. The well discovered a new gas condensate field estimated to hold recoverable reserves of 52 billion cu m natural gas and 2 million tons of liquids under the Russian reserve reporting standards.
The license area is partially in the shallow waters of the Ob and Taz bays and lies near Artic LNG 1’s Geofizicheskiy and Trekhbugorniy license areas and Soletsko-Khanaveyskoye field (OGJ Online, April 28, 2020). With this discovery, NOVATEK will expand its resource base in Gydan Peninsula with the view to putting the field into production.
