Sibir's Production at Salym Fields Exceeds 120,000 bbl/d

Sibir announces that the crude oil production rate at its Salym fields exceeded 120,000 barrels per day (bopd), a new record. The Salym fields are located in western Siberia and are operated by Salym Petroleum Development NV (SPD), Sibir's 50:50 joint venture with Shell.

The new SPD production record brings Sibir's 50% share of production at Salym to over 60,000 bopd. Combined with production from Sibir subsidiary, Magma, at the Yuzhnoye fields in western Siberia, Sibir's total daily production has now exceeded 67,000 bopd.

Commenting on the announcement, Sibir CEO, Henry Cameron said, "Surpassing 67,000 bopd, now ranks Sibir amongst the largest UK listed independent oil companies in terms of net daily equity production."