Sibir, Shell JV Reaches Production Record with Salym

Sibir announced that the crude oil production rate at its Salym fields has now exceeded 125,000 barrels per day, making a new record. The Salym fields are located in western Siberia and are operated by Salym Petroleum Development NV, Sibir's 50:50 joint venture with Shell.

The new SPD production record brings Sibir's 50% share of production at Salym to over 62,500 bopd. Combined with production from Sibir subsidiary, Magma, at the Yuzhnoye fields in western Siberia, Sibir's total daily production now exceeds 69,000 bopd.

Sibir CEO, Henry Cameron said, "Reaching the 125,000 barrel per day production rate is a tremendous accomplishment and much credit is due to the continued dedication of the workforce."