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Reuters: Sibir hits 100,000 bpd mark at Shell JV in Salym

Mon Oct 22, 2007 10:01am BST 

MOSCOW, Oct 22 (Reuters) – Russia-focused, London-listed oil company Sibir Energy Plc (SBE.L: Quote, Profile, Research) said on Monday its joint venture with Royal Dutch Shell (RDSa.L: Quote, Profile, Research) in west Siberia exceeded a landmark production level of 100,000 barrels per day.

“Today’s announced 100,000 bpd production rate at Salym, a month ahead of schedule, represents… a major milestone for the project,” Sibir’s CEO Henry Cameron said in a statement.

Sibir said most of its production at Salym, equally joint owned with Shell and started three years ago, will be processed at the Moscow Refinery, which Sibir bought in August.

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