PAO NOVATEK announced that Yargeo, NOVATEK’s joint venture, won the auction for geological survey, exploration and production license for the North-Yarudeyskiy subsoil area. For the first time, the Company won an auction held on the electronic platform “ETP GPB”. The license area is located within the Yamal-Nenets Autonomous Area near Yarudeyskoye field. The North-Yarudeyskiy license area holds an estimated hydrocarbon resource potential of 93.5 million barrels of oil equivalent according to the Russian resource classification system. The license term is 27 years.
