MOSCOW, October 19 (RIA Novosti) - Russia's largest independent gas producer Novatek will be able to increase its gas output by around 44% annually due to the upgrade of facilities at a major deposit, the company said on Monday.
With the launch of two facilities for low-temperature gas separation at the Yurkharovskoye field in the Arctic, Novatek will be able to produce up to 23 billion cubic meters of natural gas and 2 million metric tons of gas condensate there, representing an increase of 7 bcm.
The launch will push the company's total gas output up to 23 bcm annually.
Novatek produced 11.71 bcm of natural gas and 895,000 metric tons of gas condensate at the field in 2008.
Proven reserves at the Yurkharovskoye field amount to 343 bcm of gas and 17 million metric tons of gas condensate. Novatek has been developing it since 2003.
