OAO NOVATEK today reported preliminary production data for the third quarter and nine months 2011.
Gross production for the third quarter totaled 13.45 billion cubic meters of natural gas and 998 thousand tons of liquids (gas condensate and crude oil). Gross natural gas production increased by 4.95 billion cubic meters, or by 58.2%, and gross liquids production increased by 109 thousand tons, or by 12.3%, as compared with the corresponding gross production in the third quarter 2010.
In the first nine months of 2011, gross production for NOVATEK totaled 39.01 billion cubic meters of natural gas and 3.06 million tons of liquids. Natural gas production increased by 12.12 billion cubic meters, or by 45.1%, whereas liquids production increased by 425 thousand tons, or by 16.1% as compared with the corresponding gross production in the first nine months of 2010.
In the third quarter and first nine months of 2011, NOVATEK processed 928 and 2,884 thousand tons, respectively, of unstable gas condensate at the Purovsky Gas Condensate Processing Plant.
The Company’s preliminary stable gas condensate export volumes amounted to 657 thousand tons for the third quarter 2011 as compared to 722 thousand tons in the corresponding period of 2010. At 30 September 2011, we had approximately 1,198 million cubic meters of natural gas and 325 thousand tons of stable gas condensate in transit or storage and recognized as inventory compared to 1,058 million cubic meters of natural gas and 206 thousand tons stable gas condensate at 30 September 2010.
[mappress] Source: NOVATEK, October 10, 2011;