Sibir Says Production Now Exceeding 50,000 bpd

Sibir says that equity production from its upstream units now exceeds 50,000 barrels per day (bopd). The new production record was reached as Salym Petroleum Development NV (SPD), Sibir's 50:50 joint venture with Shell, achieved production of over 86,000 bopd from the Salym group of fields in Western Siberia. Commenting on the announcement, Sibir CEO, Henry Cameron said, "Reaching the 50,000 bopd production record is a major milestone for Sibir and is the result of continued strong production growth at Salym which is now halfway through its second full year of commercial production. With a robust drilling and hydrofracking campaign underway at Salym, Sibir expects SPD to continue delivering steady increases in production and achieve its year end production targets."