PAO Novatek Discovers New Gas/Condensate Field

New well on the Gydan Peninsula strikes gas and condensate.

Gydan peninsula.
Gydan peninsula.

PAO Novatek subsidiary Arctic LNG 1 completed testing the first well in the Bukharinskiy license area adjacent to the company’s Trekhbugorniy license area in the Gydan Peninsula. The well discovered a new gas condensate field, which was confirmed by the opinion from the State Reserves Commission.

The discovered field was named after geologist and Novatek co-founder Viktor Girya. The new field is estimated to hold recoverable reserves of 52 billion m3 of natural gas and 2 million tons of liquids under the Russian reserve reporting standards. With this discovery, the company will expand its resource base in the Gydan Peninsula.