By Adam Clark

Novatek (NVTK.MZ) said Thursday that its hydrocarbon reserves rose 4% in 2018, including its production during the year.

The Russian oil-and-gas company said its total proved reserves stood at 15.79 billion barrels of oil equivalent at the end of the year.

Reserves were boosted by successful exploration work and assets acquisitions. Novatek noted that its license areas in the Yamal and Gydan peninsulas weren't included in the current-year reserves but will support its plans for a liquefied natural gas platform in the Arctic region.

Write to Adam Clark at adam.clark@dowjones.com

(END) Dow Jones Newswires

January 24, 2019 05:37 ET (10:37 GMT)