Arcticgas production rises 1.8% in 2023, while liquid hydrocarbons output drops 1.2%

MOSCOW. Feb 22 (Interfax) - Gas production at Arcticgas, a joint venture of Novatek and Gazprom Neft , reached 15.3 billion cubic meters in 2023, which is 1.8% more than the year before, Novatek's annual report says.

Production of liquid hydrocarbons decreased 1.2% to 4.3 million tonnes.

Production is given on an attributable basis, so in total Arcticgas produced 30.6 bcm of gas and 8.6 million tonnes of liquids in 2023.

Yurkharovneftegaz, which is wholly owned by Novatek, reduced gas production by 0.3% to 22.9 bcm while liquids rose 30% tonnes 2.1 million tonnes.

Novatek-Tarkosaleneftegaz increased gas production 3.1% to 21.5 bcm and liquids 7.9% to 3.5 million tonnes.

Novatek carried out commercial hydrocarbon production at 27 fields in 2023. Total natural gas production, including the share in production by joint ventures, rose 0.3% to 82.39 bcm, with wet gas accounting for 84.7% of it. Liquids production, including joint ventures, rose 3.6% to 12.37 million tonnes.

Direct hydrocarbon production costs including joint ventures were among the lowest in the world, Novatek said, without naming a figure.