Novatek JV obtains North-Yarudeisky subsoil license

MOSCOW. June 16 (Interfax) - Yargeo, a Novatek joint venture, has won an auction for the right to prospect, explore and develop the North-Yarudeisky subsoil area, Novatek said in a press release.

For the first time, the company won an auction held on the electronic platform ETP GPB.

The license area is located in the Yamal-Nenets Autonomous District near the Yarudeskoye field and contains an estimated 93.5 million barrels of oil equivalent according to the Russian resource classification system. The license term is 27 years.