Novatek Discovers New Gas Field At Ob Bay

Pao Novatek, a Russian natural gas-focused independent, said on Oct. 11 that its subsidiary OOO Arctic LNG 3 has confirmed a new natural gas and gas condensate field in the North-Obskiy license area in shallow-water Ob Bay offshore northern Russia.

News of the North-Obskoye Field discovery was announced after testing of the first exploration well in the license area. Novatek said the field has estimated reserves of more than 320 billion cubic meters (Bcm) of natural gas under Russian reserve classification, and its total resources at the drilled well area are estimated at more than 900 Bcm of natural gas.