Novatek-Yurkharovneftegas, a subsidiary of Novatek, has been awarded two 25-year oil and gas licences to explore and produce hydrocarbons in two areas in the Yamal-Nenets region in northern Russia.
The first license, which comprises the South-Yamburgskiy subsoil area located in the Nadym District, has estimated resources of 506 bcm of natural gas and 126 Mt of liquids (4.3 Gboe). The second permit, which covers the East-Ladertoyskiy subsoil area located on the Gydan Peninsula, has estimated resources of 184 bcm of natural gas and 32 Mt of liquids (1.5 Gboe).
In September 2019, Novatek's subsidiary Arctic LNG 1 won the auction for a geological survey, exploration and production license for the Soletsko-Khanaveyskoye gas field. The 27-year license is also located on the Gydan peninsula in Yamal-Nenets Autonomous Region. The area covered by the license has estimated hydrocarbon resources of 2,183 bcm of gas and 16 Gboe.