trending Market Intelligence /marketintelligence/en/news-insights/trending/dhjo4chycomqc42fhabdlg2 content esgSubNav
In This List

Novatek subsidiary drills 1st well at North-Obskiy license in Russia

Blog

Insight Weekly: Labor market recovery hurdles; power market integration; nonbank M&A hunt

Blog

ESG & Technology: Impacts and Implications

Blog

Q&A: Q2'21 Power Forecast: Overheated Power Markets are Here – Who Wins, Who Loses, and Why?

Blog

Essential Energy Insights - October 2021


Novatek subsidiary drills 1st well at North-Obskiy license in Russia

Arctic LNG 3, a subsidiary of PAO NOVATEK, drilled the first well at the North-Obskiy license area in Russia, according to a July 27 release.

Leonid Mikhelson, Novatek chairman of the management board, said the license area is characterized by significant geological potential and is a favorable location in terms of logistics. The license area's proximity to the exit from Ob Bay in its Northern part provides a convenient passage of vessels and requires no approach channel, Mikhelson said.

"Arctic LNG 3 potentially represents the next stage in implementing NOVATEK's development strategy to increase LNG production in the Russian Arctic region," Mikhelson said.