Project Profile
Location: Southeast shore of the Tazov peninsula and offshore in the Tazov Gulf, Russia
Reserves: 436.5 bcm of natural gas and 23.2 mmt of liquid hydrocarbons (proven reserves)
Production: 34.1 bcm of natural gas and 2,672 thousand tons of liquid hydrocarbons (2012)
Start-up Year: 2003
The Yurkharovskoye oil and gas condensate field is the main producing asset of NOVATEK, and, as of the end of 2012, the field accounted for approximately 25% of the company’s proved natural gas reserves to SEC standards and 54% of proved developed SEC reserves. In 2012, the field contributed more than 60% of our sales natural gas production and 63% of liquids production. The license for the field is valid until 2034. The field was discovered in 1970 and is located within the polar circle on the southeast shore of the Tazov peninsula. The field’s western part lies on the Tazov peninsula, while the central and eastern parts are situated offshore in the Tazov Gulf. The offshore part of the field is being developed from onshore locations using horizontal wells. Proved SEC reserves as at the end of 2012 were 436.5 bcm of natural gas and 23.2 mmt of liquid hydrocarbons. Most of the gas reserves are contained in Valanginian layers and the productive layers are located over a small geographical area, which we believe enhances the efficiency of reserves development and exploitation in terms of both capital expenditures and operating costs.
Marketable production of gas and gas condensate at the Yurkharovskoye field began in 2003, and, in 2012, reached 34.1 bcm of natural gas and 2,672 thousand tons of liquid hydrocarbons. The field development model provides for the drilling of large-diameter and multilateral horizontal wells, which reduces the total number of wells needed to develop the field, thereby minimising capital expenditures. Wells at the field are up to 245 mm in diameter and the length of horizontal parts of the borehole exceeds 1,000 metres, with initial flow rates at some producing wells average up to 4.5 mmcm of gas per day. In 2012, a total of 6 new gas and gas condensate wells were launched and the total well stock (producing wells) increased to 72 by 2013.
The launch of the fourth stage of Phase Two development in October 2012 has brought the field to its target production plateau of 36.5 bcm per annum of natural gas. The fourth stage consists of two low-temperature separation lines, each with annual capacity of 3.5 bcm of natural gas. The first stage booster compressor station consisting of three units with total capacity of 75 MW was also launched in 2012, which enables gas production at the field to be maintained at the maximum plateau level. In 2012, one test well was drilled to prepare for the future development of oil deposits at the field, and achieved an initial flow rate of 83 tonnes per day.
Operators:
OAO NOVATEK (NOVATEK): Operator with 100% interest