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On March 12, 2009, Michael Shulyak, Head of Procurement and Logistics Department, Member of Oil and Gas Industry Coordinating Council, will take the floor at the Annual Conference "Oil and Gas Industry Supply Chain”. The Conference is aimed at providing transparent and open system for selection of oil and gas companies’ suppliers.  The participants will share their experience during the conference and discuss logistics support systems of various companies.  This event becomes especially challenging when implementing cost optimization program in many oil and gas companies.  

NOVATEK is Russia’s largest independent gas producer and the second-largest natural gas producer to Gazprom OAO.  Founded in 1994, the Company is engaged in exploration, production and processing of natural gas and liquid hydrocarbons and as of the close of 2007 it had 4.7 billion BOE of proved reserves.  All fields and license blocks of NOVATEK OAO are located in Yamal-Nenets autonomous okrug of the Russian Federation.  Yamal –Nenets autonomous okrug is the world’s largest natural gas producing region having over 90% Russia's natural gas output and nearly 20% of the world’s natural gas production.  

DeGolyer and MacNaughton, an independent petroleum engineering consulting firm, has appraised the reserves at three main fields - Yurkharovskoye, East Tarkosalinskoye and Khancheyskoye.  By its appraisal, as of December 31, 2007 these fields have proved reserves of 4.7 billion boe (barrels of oil equivalent), inclusive of 653 billion cubic meters of natural gas. In 2007 three main fields had produced 207 billion BOE, approximately 570 thousand BOE per day, i.e. 28.5 billion cubic meters of natural gas and 2.4 MMt of liquid hydrocarbons. The rapid growth of the Company has been achieved through the successful corporate strategy and exploration of significant hydrocarbon accumulations while keeping up low-cost levels.  Our strategy is to efficiently develop our competitive advantages.  

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