Novatek Joint Venture Wins $23.8 Million Russian Natural Gas License

By Carlo MartuscelliFeaturesDow Jones Newswires

Novatek (NVTK.LN) said on Tuesday that its joint venture, Arcticgas, won a bid for a natural-gas exploration-and-production license in the Yamal-Nenets Autonomous Region in Russia for 1.4 billion rubles ($23.8 million).

The Russian natural-gas company said that the license is for a 25-year term and contains an estimated 4.4 billion barrels of oil equivalent.

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(END) Dow Jones Newswires

December 19, 2017 08:07 ET (13:07 GMT)