Project Profile
Value: US$1.5 billion
Location: Northern Russia
Reserves: 4.5 mmt of liquid hydrocarbons and 7.4 bcm of natural gas
Production: 9,700 tons of crude oil per day (equivalent to approximately 3.5 million tons per annum)
Start-up Year: December 2015
The license for the Yarudeyskoye field is valid until 2029 and is held by Yargeo. OOO Yargeo is engaged in the exploration and production of natural gas and liquid hydrocarbons and is based in Salekhard, Russian Federation. As of June 2, 2006, OOO Yargeo is a subsidiary of OAO Novatek. Most of the recoverable reserves at the field are in located in crude oil deposits. Proved reserves of the field to SEC reserves standards as of 31 December 2012 totaled 4.5 mmt of liquid hydrocarbons and 7.4 bcm of natural gas. Reserves according to C1+C2 Russian classification amounted to 46 mmt of liquids and 28 bcm of natural gas (NOVATEK’s share is 23 mmt of liquids and 14 bcm of natural gas). In 2012, an appraisal well was drilled at the field, which confirmed the field’s geological model and led to an increase of estimated reserves. The overall investment in the field over the next three years is expected to be US$1.5 billion. Oil output reached 3.5 mln T/year at Yarudeyskoye. In December 2015, OAO NOVATEK started commercial production at Yarudeyskoye oil field, which is expected to rapidly reach its planned daily production level equivalent to approximately 3.5 million tons of crude oil on an annualized basis. In 2016, OAO NOVATEK’s Yarudeyskoye oil field has reached its planned production capacity of 9,700 tons of crude oil per day, which is equivalent to approximately 3.5 million tons per annum. Twenty-four production wells are currently in operation at the field with average flow rate exceeding 400 tons of crude oil per day per well.
Operators:
OOO Yargeo (subsidiary of OAO Novatek): Operator with 100% interest