Novatek reports gas, condensate discovery

Novatek said drilling and testing by subsidiary Arctic LNG 3 have confirmed a natural gas and condensate discovery on the North-Obskiy license in shallow waters of Ob Bay in Russia’s Yamal-Nenets Autonomous Region.

Novatek estimated gas reserves of North-Obskoye field at more than 320 billion cu m under the Russian classification system.

It didn’t report other details.