MOSCOW, April 3, 2013 /PRNewswire/ -- OAO NOVATEK ("NOVATEK" and/or the "Company") today reported preliminary natural gas production data for the first quarter 2013.
Gross natural gas production for the first quarter totaled 16.1 billion cubic meters ('bcm'), which is 9.7% higher than the corresponding gross production in the first quarter 2012. Gross natural gas production in March 2013 totaled 5.54 bcm, representing a 12.1% increase as compared with the corresponding gross production in March 2012.
The main increase in our production levels was due to the launch of the fourth stage of Phase Two development at the Yurkharovskoye field in October 2012. The growth was also supported by the launch of the second phase of the Samburgskoye field, which is being developed by OOO SeverEnergia (NOVATEK's share is 25.5%) and the acquisition of a 49% equity stake in ZAO Nortgas, which is producing gas and liquids at the North-Urengoyskoye field.
Information provided in this press release presents expected results of OAO NOVATEK operations in the first quarter 2013. The information represents preliminary assessment only, which can be adjusted after statistical, financial, fiscal and business reporting becomes available. The information on NOVATEK's operational results in this press release depends on many external factors and therefore, provided all permanent obligations imposed by the London Stock Exchange listing rules are unconditionally observed, cannot qualify for accuracy and completeness and should not be regarded as an invitation for investment. Therefore, the results and indicators actually achieved may significantly differ from any declared or forecasted operational results in 2013. NOVATEK assumes no obligation (and expressly declares that it has no such obligation) to update or change any declarations concerning any future results, either due to new information obtained, and any future events or for any other reasons.