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Sibir, Shell mark Siberian record


Published Jan 17, 2008
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Sibir Energy provides Salym update-Spotlight

Sibir Energy declared a production record of over 116,000 barrels of oil per day and the ratcheting up of flows at its 50-50 joint venture Salym Petroleum NV, where supermajor Royal Dutch Shell is partner.

For Sibir, and its 58,000 bpd share of production, flows have topped up to 65,000 bpd with more oil from its business Magma.

Sibir shares rose, plateaued and then fell on the news from its West Siberian fields, before easing at £546 by mid-morning.

Sibir chief exec Henry Cameron said extra sales have let the company make “substantial loan repayments”.

Tags: Royal Dutch Shell plc, Sibir Energy




   

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