Sibir Rides High with Production Record of 70,000 BOPD
Sibir announced that on July 28, 2008 equity production from its upstream exceeded 70,000 bopd. A new production record was reached as Sibir's 50:50 joint venture with Shell in the Salym group of fields in Western Siberia, Salym Petroleum Development NV (SPD), achieved production of over 128,000 bopd.
The new SPD production record brings Sibir's 50% share at Salym to over 64,000 bopd which, combined with production from its subsidiary Magma, brings Sibir's total daily production to over 70,000 bopd.
Commenting on the announcement, Sibir CEO, Henry Cameron, said, "The current levels of oil production enable Sibir to continue reducing its borrowings at a rapid rate."
Operates 30 Offshore Rigs
- UK Firm Intertek Says Employee Involved in Shell Oil Theft Case (Jan 17)
- Shell Looks Beyond Road Fuels to Secure Future of Refining (Nov 06)
- API Panel Member: Voluntary Methane Program Forthcoming (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)