Novatek said that it has discovered a new natural gas and condensate field in the North-Obskiy license area in the shallow waters of the Ob Bay, offshore Russia.
The discovery was made by Novatek’s subsidiary Arctic LNG 3 following the testing of the first exploration well at the North-Obskiy license area in the Arctic Ocean.
Novatek revealed that the newly discovered North-Obskoye gas and condensate field has estimated reserves in excess of 320 billion cubic meters (bcm) of natural gas under Russian reserve classification. Its total resources, on the other hand, at the drilled well area, are estimated to be over 900bcm of natural gas, said the Russian gas producer.
Novatek expects to submit the reserves estimates of the North-Obskiy field to the Russian State Reserves commission for confirmation in November 2018.
Novatek management board chairman Leonid Mikhelson said: “The discovery of significant hydrocarbon reserves at the North-Obskoye field is an important starting point for one of our future LNG projects in the Arctic region.
“Under the Russian reserve classification, the North-Obskoye field will be included into the “unique” category in terms of reserves size. The favorable geographical location of the field, its huge resource base and our accumulated LNG experience are important prerequisites to successfully implement this new LNG project”.
It was in July 2018 that Arctic LNG 3 began drilling of the first well at the North-Obskiy license area. A jack-up floating drilling rig called Amazon was leased from Gazprom flot for the drilling of the initial well.
The North-Obskiy license area is said to be quite near to the exit from the Ob Bay in its Northern part, which is believed to enable a smooth passage of vessels and would need no approach channel.
In late September, Novatek announced the discovery of two new hydrocarbon deposits at the Utrenneye field in northern West Siberia following the drilling and testing of well #294.
The Russian gas giant confirmed the commercial viability of the newly discovered mid-Jurassic deposits in the Utrenneye field, which is located on the remote Gydan Peninsula in the Yamal-Nenets Autonomous District.