Salym Petroleum Development Sets Production Record
Sibir's 50:50 joint venture with Shell in the Salym group of fields in western Siberia, Salym Petroleum Development NV (SPD), reports that the total crude oil production rate at the fields now exceeds 50,000 barrels per day (bpd).
The new SPD production record brings Sibir's 50% share of production at Salym to over 25,000 bpd. Combined with production from Sibir subsidiary, Magma at the Yuzhnoye fields in western Siberia, Sibir's total daily production now exceeds 32,000 bpd.
Commenting on the SPD announcement Sibir CEO, Henry Cameron, said, "Having reached the critical 50,000 bopd production milestone in the short period since we launched commercial production in December, 2005, SPD's year-end target of 60,000 bopd is now squarely in our sights. In addition to the excellent progress to date in drilling, completions and hookup in Upper and West Salym, the streaming of the Vadelyp field in Q4 should add significantly to our production in 2006."
Operates 27 Offshore Rigs
- API Panel Member: Voluntary Methane Program Forthcoming (Oct 06)
- Eni Bets Big on Zohr Explorer Finding New Treasure (Oct 06)
- Shell, Varo End Talks on Germany Refinery Stake Sale (Oct 06)
Company: Sibir Energy more info
- Salym JV Sets New Oil Production Record in Western Siberia (Apr 15)
- Sibir Launches High Court Proceedings against 2 Former Directors (Apr 07)
- Sibir Achieves Production Record of 7.1MM Barrels in Q4 2008 (Apr 07)
Company: Salym Petroleum Development more info
- Halliburton Snags $100MM Contract Extension in Western Siberia (Mar 25)
- Integra Inks 2-Year Contract with Shell, Sibir JV (Jul 17)
- Sibir's Production at Salym Fields Exceeds 120,000 bbl/d (Apr 30)