Novatek's price paid for the East-Taz site considered to be very expensive
Edited by Rhod Mackenzie / 2013-03-15 05:15:54
Novatek has won the auction for the East-Taz oil and gas condensate deposit having offered 3.2 bln roubles – almost 3 times more than the start-up price. The other candidates – Gazprombank, Itera, Lukoil and Oil and Gas Corporation – considered the price to be very high. Novatek, that has the infrastructure located nearby and it expands its resource base. It will be able to increase its reserves by 3.8% on the account of the new site.
