9 Oct 2014 14:03

Novatek, Total boost Terneftegaz equity to 3.5 bln rubles

MOSCOW. Oct 9 (Interfax) - Novatek and France's Total have boosted the equity of the Terneftegaz joint venture, set up to develop the Termokarstovoye field, to 3.498 billion rubles, the company says in materials.

Equity was 2.98 billion rubles at the end of June. Long-term liabilities were 15.9 billion rubles at the end of 2013.

Novatek owns 51% and Total owns 49% of the joint venture. The Termokarstovoye field is due to go into production next year. Peak production will be 2.15 bcm gas and 850,000 tonnes condensate.