Novatek (NVTK.MZ) said Monday that it has completed testing the Jurassic reservoir at well 135R on its West-Yurkharovskiy license area in Russia.
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The independent Russian gas producer said the well has been flowing at 650,000 cubic meters of gas per day through the 10-day testing period. Novatek said this data confirms the commercial viability of the deeper Jurassic deposits at the site, and it will begin an exploration program and pilot production.
Moscow-listed shares are up 2.70 rubles at RUB677.90 at 0928 GMT.
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(END) Dow Jones Newswires
November 13, 2017 04:50 ET (09:50 GMT)