Salym JV Sets New Oil Production Record in Western Siberia

Sibir today announces that the daily crude oil production at Salym fields exceeded 160,000 barrels, setting another new record. 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 rate takes Sibir's 50% share at Salym to 80,000 bopd which, combined with production from its subsidiary Magma, brings Sibir's total daily equity production rate to over 86,000 bopd.

Stuard Detmer, Sibir's Acting CEO commented, "It has taken less than two years to double production at Sibir's core producing asset, the Salym fields. Reaching the 160,000 bopd milestone is a testament to SPD's continued dedication to becoming one of the best operating companies in Western Siberia."