Novatek to increase the hydrocarbon production on Yamal.

This year Novatek will increase the production of liquid hydrocarbons - oil and gas condensate on Yamal by fifty percent, Leonid Michelson, the company chairman, told reporters. "We always alienated our oil programs because the oil reservoirs in the fields of the company are not very big and their development can not be called a cost-effective and economically viable. But two years ago after the Russian government took a decision that the tax rate on extraction beyond the sixty-fifth parallel is zero for ten years, we have the economic opportunity to develop small oil fields, "- the head of the company stated..