Novatek Reports 2Q Gas, Liquids Production Increase

Russia's Novatek reported Thursday that its second-quarter production improved to 551 billion cubic feet (bcf) of natural gas and 9.7 million barrels of liquids (gas condensate and crude oil). Compared with figures for 2Q 2013, the increase in gas production was 2.6 percent while the boost to liquids production was 13.2 percent.

For the first half, Novatek's gas production was about the same as that for 1H 2013 but its combined liquids production was up 14.4 percent. When accounting for the disposal of the company's share in Sibneftgas at the end of 2013, Novatek's share of natural gas production increased by 9.9 percent during 1H 2014.

As of June 30 2014, Novatek had 56.1 billion cubic feet of natural gas and 2.6 million barrels of stable gas condensate and its products in storage or transit and recognized as inventory.

Have a news tip? Share it with Rigzone!


Click on the button below to add a comment.
Post a Comment
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

Related Companies

Our Privacy Pledge

More from this Author
Rigzone Staff
e-mail us at
 -  Shell to Sell Gabon Onshore Assets for... (Mar 24)
 -  Industry Pros Gather for Offshore Achi... (Mar 24)
 -  Statoil Makes North Sea Oil, Gas Disco... (Mar 24)
 -  Report: Hiring Managers See Salaries S... (Mar 23)
 -  Repsol Chooses Atlas for Onshore, Offs... (Mar 23)

Most Popular Articles

From the Career Center
Jobs that may interest you
Production Analyst
Expertise: Accounting|Financial Analyst
Location: Midland, TX
Executive Protection Coordinator
Expertise: Risk Management|Security
Location: TX
United States Denver: Proposals Specialist
Expertise: Business Development|Marketing|Sales
Location: Denver, CO
search for more jobs

Brent Crude Oil : $50.56/BBL 0.15%
Light Crude Oil : $47.7/BBL 0.70%
Natural Gas : $3.05/MMBtu 1.32%
Updated in last 24 hours