Novatek, Moscow, has won an open auction to acquire the holders of two exploration and production licenses in Russia’s Yamalo-Nenets Autonomous District, where it produces hydrocarbons from 13 fields.
Novatek, Moscow, has won an open auction to acquire the holders of two exploration and production licenses in Russia’s Yamalo-Nenets Autonomous District, where it produces hydrocarbons from 13 fields.
Novatek will acquire 100% of Maretiom Investments Ltd. and 100% of Velarion Investments Ltd. from diamond-producer Alrosa for 30.3 billion rubles (about $540 million).
Maretiom owns a 100% equity share of Geotransgaz, which holds the hydrocarbon exploration and production license encompassing Beregovoy gas and condensate field. Production from the license last year totaled 1.6 billion cu m of natural gas and 185,000 tonnes of condensate.
Maretiom also owns a 100% participating interest in Urengoy Gas Co., holder of the Ust-Yamsoveyskiy license area, which is under development.