Russian Novatek Lands more Acreage

Russian independent producer Novatek has landed five new licences in Krasnoyarsk in northern Russia, near its existing licences on the Gydan Peninsula, it said May 24.

One wholly-owned subsidiary, Novatek Yurkharovneftegas, has the right to geological survey licences for the Khalmeryahskiy, Dorofeevskiy and West-Dorofeevskiy areas; while Novatek Tarkosaleneftegas has the right for geological survey licences for the SouthKhalmeryahskiy and South-Dorofeevskiy areas.

It said: "The acquisition of five new licences is in line with the company’s strategy to expand its resource base on the Yamal and Gydan peninsulas and increase natural gas and liquid hydrocarbon production."

As before with other licence acquisitions, it did not say in the release how much it paid for the rights. It did not mention the potential resource base.