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NOVATEK reports preliminary operating data for the first quarter 2018

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Oilfield Technology,


PAO NOVATEK reported preliminary operating data for the first quarter 2018.

In the first quarter 2018, NOVATEK’s hydrocarbons production totaled 132.5 million barrels of oil equivalent (boe), including 16.51 billion m3) of natural gas and 2 936 000 t of liquids (gas condensate and crude oil), resulting in an increase in total hydrocarbons production by 2.0 million boe, or by 1.5% as compared with the first quarter 2017.

Preliminary natural gas sales volumes, including LNG, aggregated 20.26 billion m3, which was 8.0% higher compared with the corresponding period in 2017. The LNG sales volumes on international markets in the first quarter 2018 amounted to 0.96 billion m3.

The Company processed 2 762 000 t of unstable gas condensate at the Purovsky Processing Plant, representing a 5.1% decrease as compared with the corresponding volumes processed in the prior reporting period. NOVATEK processed 1 773 000 t of stable gas condensate at the Ust-Luga Complex, representing a 0.3% increase in volumes processed at the facility in the first quarter 2018.

Preliminary first quarter 2018 petroleum product sales volumes aggregated 1 566 000 t, including 943 000 t of naphtha, 253 000 t of jet fuel, and 370 000 t of fuel oil and gasoil.

As at 31 March 2018, NOVATEK had 0.05 billion m3 of natural gas and 893 000 t of stable gas condensate and petroleum products in storage or transit and recognised as inventory.

Read the article online at: https://www.oilfieldtechnology.com/special-reports/12042018/novatek-reports-preliminary-operating-data-for-the-first-quarter-2018/

 

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