OREANDA-NEWS. OAO NOVATEK held its Strategy Day presentation today at the Company’s London representative office.  NOVATEK updated its guidance for achieving its strategic targets for 2010 and provided additional guidance for 2015.

NOVATEK’s Strategy Day focused on the following key points:
• Investment into upstream assets to increase reserves and production
• Investment into gas condensate processing capacity
• Optimization of marketing channels
• Consideration of value added projects in complimentary business segments
• Updates to financial guidance and targets


NOVATEK reiterated its production guidance for 2010 of 45 billion cubic meters (bcm) of natural gas and 4,6 million tons (mmt) of liquids (gas condensate and crude oil). The Company also plans to increase the processing capacity at its wholly-owned Purovsky Gas Condensate processing plant to 5 mmt per annum by the end of 2008. In addition, the Company has extended its operational guidance up to 2015.  Based on the increased gas condensate processing capacity and further upstream investment, mainly in the fields of Yurkharovneftegas, the Company plans to produce up to 65 bcm of natural gas and 8 to 9 mmt of liquids by 2015. NOVATEK plans to continue growing its core exploration and production segment and also seek opportunities in downstream and complimentary sectors.