Novatek Acquires Oil-And-Gas Company Severneft-Urengoy From EuroChem
November 23 2017 - 8:34AM
Dow Jones News
By Adam Clark
Novatek (NVTK.LN) said Thursday that it has acquired oil-and-gas
operator Severneft-Urengoy and its associated hydrocarbon
exploration and production licenses from EuroChem Mineral &
Chemical Co. for an undisclosed amount.
The Russia-based natural gas producer said the acquisition
includes the West-Yaroyakhinskiy license area, close to its
existing operations. The license contains estimated hydrocarbon
resources of 918 million barrels of oil equivalent, the company
said.
Chairman Leonid Mikhelson said the acquisition will make an
immediate contribution to Novatek's gas and liquids production,
with synergies to be achieved from processing the resources at its
existing facilities.
London-listed shares are down $0.20, or 0.2%, at $117.80 at 1252
GMT.
Write to Adam Clark at adam.clark@dowjones.com;
@AdamDowJones
(END) Dow Jones Newswires
November 23, 2017 08:19 ET (13:19 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.