Sibir, Shell Break Production Record at Western Siberian Fields

Sibir announced that the equity production rate from its upstream units has exceeded 80,000 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 146,900 bopd from the Salym group of fields in Western Siberia.

The new SPD production rate takes Sibir’s 50% share at Salym to over 73,450 bopd which, combined with production from its subsidiary Magma, brings Sibir’s total daily equity production rate to over 80,000 bopd.

Commenting on the announcement, Sibir CEO, Henry Cameron said, “The 80,000 bopd production rate surpasses Sibir’s own ambitious target production rate for year-end 2008 and demonstrates continued strong growth in our core upstream producing assets.”