24 Oct 2013 11:41

Novatek puts new Urengoiskoye gas deposit into operation

MOSCOW. Oct 24 (Interfax) - Independent gas producer Novatek has put the Urengoiskoye gas deposit into operation, the company said in a press release.

"Novatek announced today [October 24] the initial launch of the Urengoyskoye field within the company's Olimpiysky license block, with the field's production capacity estimated at one billion cubic meters (bcm) of natural gas per annum," the release says.

Four production wells have been completed at the field, of which three wells are already producing natural gas. The Urengoyskoye field has proved natural gas reserves of 21 bcm, as estimated under SEC reserves methodology [as of] December 31, 2012," the company said.