NOVATEK is a new client of RVS
14 February 2011
Valuers of RVS completed a large project of business valuation for the company affiliated with NOVATEK group.
NOVATEK is Russia’s largest independent gas producer and the second-largest natural gas producer in Russia after Gazprom OJSC.
Founded in 1994, the Company is engaged in the exploration, production and processing of natural gas and liquid hydrocarbons and had 8.09 billion oil equivalent barrels of proved reserves at the end of 2010.
The Company’s upstream activities are concentrated in the Yamal-Nenets Region. In 2010, gross production for NOVATEK totaled 37.78 bcm of natural gas and 3,632 thousand tons of liquids. In comparison with 2008, natural gas production increased by 5.00 bcm, or by 15.3%, whereas gross liquids production increased by 583 thousand tons, or by 19.1%, as compared with the corresponding gross production in 2009. During 2010, NOVATEK processed 3,401 thousand tons of unstable de-ethanized gas condensate at the Purovsky Processing Plant, of which 940 thousand tons was processed in the fourth quarter.