Novatek wins new Yamal licences

Gathering pace: on Yamal peninsula

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By News Wires

 30 August 2011 08:55 GMT

Russia’s second biggest gas producer Novatek has been awarded licences to develop four deposits on the Yamal peninsula in the north of the country.

Prime Minister Vladimir Putin has ordered the government to make the awards to the independent gas player, RIA Novosti reported.

Novatek was the only bidder for the right to develop the Geofizichenskoye, Salmanovskoye (Utrenneye), Severo-Obskoye and Vostochno-Tambeiskoye fields at a June auction that was ruled null and void.

The new licences will boost the resource base of Novatek in the gas-rich region, where it currently controls the licence for the South Tambey field with proven gas reserves of more than 1.2 trillion cubic metres

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