NOVATEK Reports Preliminary Operating Data for First Quarter 2013

MOSCOW, April 10, 2013 /PRNewswire/ -- OAO NOVATEK ("NOVATEK" and/or the "Company") reported today preliminary operating data for the first quarter 2013.

In the first quarter 2013, NOVATEK's gross production totaled 16.10 billion cubic meters of natural gas and 1,185 thousand tons of liquids (gas condensate and crude oil). Natural gas production increased by 1.44 billion cubic meters, or by 9.8% as compared with the first quarter 2012, whereas liquids production increased by 101 thousand tons, or by 9.3%.

In the first quarter 2013, NOVATEK processed 1,190 thousand tons of de-ethanized gas condensate at the Purovsky Processing Plant, representing an increase of 19.9% as compared with the first quarter 2012.

Preliminary stable gas condensate export volumes amounted to 1,167 thousand tons in the first quarter 2013 as compared to 623 thousand tons in the corresponding period of 2012. The significant increase is due to the growth in de-ethanized gas condensate processing volumes and decrease in stable gas condensate volumes in transit.

As at 31 March 2013, the Company had in transit or storage (recognized as inventory) 54 million cubic meters of natural gas and 159 thousand tons of stable gas condensate.

NOVATEK hydrocarbon production for the first quarters 2012 and 2013

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 the first quarter 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.

OAO NOVATEK is Russia's largest independent gas producer and the second-largest natural gas producer in Russia. Founded in 1994, the Company is engaged in the exploration, production, processing and marketing of natural gas and liquid hydrocarbons. The Company's upstream activities are concentrated in the prolific Yamal-Nenets Autonomous Region, which is the world's largest natural gas producing area and accounts for approximately 84% of Russia's natural gas production and approximately 17% of the world's gas production. NOVATEK is an open joint stock company established under the laws of the Russian Federation. The Company's shares are listed in Russia on MICEX-RTS Stock Exchange and the London Stock Exchange (LSE) under the ticker symbol "NVTK".

SOURCE OAO NOVATEK