Sibir's Siberian Fields Producing over 137,500 BOPD

Sibir Energy plc

Sibir Energy announced that equity production from its upstream units now exceeds 75,000 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 137,500 bopd from the Salym group of fields in Western Siberia.

The new SPD production record brings Sibir's 50% share at Salym to over 68,750 bopd which, combined with production from its subsidiary Magma, brings Sibir's total daily production to over 75,000 bopd.

Commenting on the announcement, Sibir CEO, Henry Cameron said, "Passing the 75,000 bopd production rate milestone demonstrates continued steady growth of our core upstream business as the company closes in on its 2008 year-end production target."