Proved reserves of NOVATEK according to the U.S. Securities and Exchange Commission (SEC) at the end of 2009 reached 6.853 billion barrels of oil equivalent or 38.1% up from the rated on December 31, 2008. The company’s statement said. The reserves increase was primarily due to steady growth of Yurkharovsky gas deposit, and as a result of continued drilling and discovery of new deposits and the acquisition of South Tambeysk field.
NOVATEK JSC is the largest independent and second-largest producer of natural gas in Russia. Founded in 1994, the company is engaged in the exploration, extraction and processing of gas and liquid hydrocarbons. The company's fields and leased fields are located in the Yamalo-Nenets Autonomous District, the world's largest region for natural gas, which accounts for more than 90% of natural gas production in Russia and approximately 20% of the world’s gas production.
NOVATEK JSC is the largest independent and second-largest producer of natural gas in Russia. Founded in 1994, the company is engaged in the exploration, extraction and processing of gas and liquid hydrocarbons. The company's fields and leased fields are located in the Yamalo-Nenets Autonomous District, the world's largest region for natural gas, which accounts for more than 90% of natural gas production in Russia and approximately 20% of the world’s gas production.