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Novatek to retain gas and liquid hydrocarbon output in 2023 at 2022 level

It was reported earlier that natural gas production by Novatek at the end of 2022 increased by 2.8% compared to 2021 and reached to 82.14 bln cubic meters

BANGALORE, February 6. /TASS/. Novatek produced around 82 bln cubic meters of gas and 12 mln metric tons of oil and gas condensate in 2022 and at the end of 2-23, production figures are expected to remain approximately at the same level, the company’s CEO Leonid Mikhelson said on Monday.

"Our plans remain the same. Last year we produced a little over 82 bln cubic meters of gas, 12 mln tons of liquid (hydrocarbons - TASS). Our oil production is falling, and condensate production is growing," he said and specified that gas production will be roughly in the same situation.

It was reported earlier that natural gas production by Novatek at the end of 2022 increased by 2.8% compared to 2021 and reached to 82.14 bln cubic meters.

At the same time, Novatek reduced output of liquid hydrocarbons (oil and gas condensate) by 2.9% to 11.94 mln metric tons. In general, the company's hydrocarbon production increased by 2% over the reporting period and amounted to 638.9 mln barrels of oil equivalent.

Novatek is Russia's largest independent natural gas producer. The company conducts exploration, production, and processing of gas and liquid hydrocarbons. The company’s 32 fields and license areas are located in the Yamalo-Nenets Autonomous District.

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