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Sibir says in talks with Shell over Russian deal


Sibir says in talks with Shell over Russian deal

Mon Aug 4, 2008 1:30pm BST

LONDON, Aug 4 (Reuters) – UK-listed oil firm Sibir Energy (SBE.L: Quote, Profile, Research) said on Monday it was in talks with joint venture partner Royal Dutch Shell (RDSa.L: Quote, Profile, Research) about a deal which would expand its business in Russia.


“Sibir is considering all opportunities that would allow it to expand its business in Russia. Sibir discusses various opportunities with different companies on a regular basis and Shell is one of them,” the company said in a statement.


At the weekend, the Sunday Times newspaper reported that Shell and Sibir, partners in Siberia-based Salym Petroleum Development (SPD), were discussing a deal in which Shell would swap its stake in the SPD for an equity holding in Sibir itself.

(Reporting by Myles Neligan; Editing by David Holmes)
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