Novatek to accelerate launch of SeverEnergia deposits
MOSCOW. March 7 (Interfax) - Independent gas producer Novatek , which became a majority stockholder in SeverEnergia at the start of the year, plans to accelerate the development of that company's deposits, and SeverEnergia output will increase by 4.6 billion cubic meters (bcm) of gas over the earlier-planned amount, which will accord with the annual consumption, for example, of Kostroma Region.
A Novatek presentation says that - the plan last fall having been that SeverEnergia's Urengoi deposit would reach a production plateau of around 14 bcm only in 2021 - now that plateau will be reached in 2016.
The deposit will be put into production this year, and the production target has already been substantially increased: about 6.5 bcm versus 5.5 bcm earlier. The Urengoi deposit will reach an output level of almost 13 bcm. The production of gas condensate at the deposit will not deviate from the earlier announced plans by much - around two million tonnes this year and up to 3.9 million tonnes in 2015-2018 with a small gradual reduction.
Novatek increased the production plateau for another SeverEnergia deposit, Yaro-Yakhinsk, which it also wants to put into operation this year. Next year, it will provide around 7.5 bcm of gas and 1.5 million tonnes of condensate, and in 2016 it will near its own new plateau of around 8.5 bcm of gas and 1.3 million tonnes of condensate. According to earlier plans, the deposit was to reach a level of about 7 bcm in 2015.
Finally, the production plans have been changed for the SeverEnergia deposit Samburg, which is producing hydrocarbons now, and at which around 4.7 bcm is being extracted. The launch of the third line has been moved up from H2 2015 to end-2014, and the expectation is that Samburg will provide not 5 bcm of gas, but around 5.5 bcm this year (condensate output plans have not been changed from 0.7 million tonnes). In 2015-2016, Samburg will reach a production plateau of some 7 bcm of gas and 1 million tonnes of condensate.
In 2016-2017, these three deposits will reach top output of around 30 bcm of gas and over 6 million tonnes of condensate. In general, the presentation says, the SeverEnergia deposits can provide 35 bcm of gas and 6.5 million tonnes of condensate.
All the gas SeverEnergia produces is bought by Gazprom and all the condensate by Novatek, Novatek said.
Novatek plans this year to increase gas production 7%-8% and that of liquid hydrocarbons 40%-50%.
Novatek's effective stake in SeverEnergia is 59.8%, Gazprom Neft's 40.2%.
SeverEnergia LLC holds licenses to prospect and produce at the Samburg license section and to survey, prospect and produce hydrocarbons within the Yevo-Yakhinsk, Yaro-Yakhinsk, and Severo-Chaselsk license sections. Recoverable ABC1-C2 resources amount to 14.3 billion barrels of oil equivalent, including 5.5 billion barrels of liquid hydrocarbons (as of January 1, 2013).
Proven resources at SeverEnergia deposits by SEC standards, excluding the Samburg deposit, were put at 322.9 bcm of gas and 54.4 million tonnes of liquid hydrocarbons as of end-2012.