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AFX UK (Focus): Sibir Energy crude output rises to over 22,000 bpd for wk starting March 27

Apr 5th, 2006
by admin.

Apr 05, 2006
LONDON (AFX) – Sibir Energy PLC said its total crude oil production for the week beginning March 27 averaged more than 22,000 barrels per day (bpd), a record high.
Over 15,000 bpd of production is now represented by Sibir's 50 pct share of output at the Salym group of fields, operated by Salym Petroleum Development NV – Sibir's joint venture with Shell in western Siberia – which is producing in excess of 30,000 bpd.
Commercial production at the Salym fields began last December and is expected to reach 60,000 bpd, with Sibir's share reaching 30,000 bpd, by the end of 2006.
“As Sibir approaches the tenth anniversary of its activities in Russia, we are very pleased that production at Salym is ramping up according to plan and that the reservoir is performing as expected,” said chief executive Henry Cameron.
The balance of Sibir's daily production for the week of over 7,000 bpd was provided by OAO Magma, a production subsidiary 95 pct owned by Sibir where production is expected to remain stable at current levels.
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