Sibir Energy Limited

Sibir Energy Limited (Sibir) is a dynamically developing oil company with exploration and extraction operations in Western Siberia and also refining and marketing in Moscow and Moscow Region.

Sibir has two major shareholders controlling the company: “Gazprom Neft” OJSC and “Central Fuel Company” OJSC, the company wholly owned by the City of Moscow. Gazprom Neft OJSC holds over 80 % of shares and “Central Fuel Company” OJSC holds over 18% of Sibir ordinary share capital.

Sibir owns production and refining assets and sells oil products.

Sibir’s upstream production comes from its Yuzhnoye and Orekhovskoye oil fields, run by Magma Oil Company (95% Sibir owned). Sibir set up a joint venture with Shell, which is called Salym Petroleum Development N.V. (50% Sibir owned). Under the agreement Shell operates the Salym group of oil fields. Sibir’s total current production is over 80,000 barrels of oil per day (bopd), including its 50% of production from the Salym oil fields and its wholly owned Magma production unit. By the end of 2010 Sibir’s total oil production is expected to exceed 90,000 barrels of oil per day (bopd).

Sibir’s downstream is uniquely positioned through its ownership of the Moscow Oil and Gas Company (MOGC). Due to this fact Sibir has 100,000 bopd of operating capacity at the Moscow Oil Refinery. Sibir’s crude oil is both exported directly and refined at the Moscow Oil Refinery to be sold as refined oil products in the fuel market. Petroleum and diesel products are also marketed directly in Moscow and Moscow Region through the Sibir's network of over 130 petrol service stations.

Since its creation in 1996, Sibir attributable reserves have totaled over 660 million barrels (Russian classification A+B+C1+C2).

Email information@sibirenergy.com