Sibir Energy plc

Sibir Energy plc is a fully integrated independent energy company with exploration and production operations in Western Siberia and refining and marketing in the City of Moscow and the Moscow region. Since its creation in 1996, Sibir has grown its attributable reserves to over 680 million barrels (Russian classification A+B+C1+C2) and daily production to over 80,000 barrels of oil per day (bopd) making Sibir one of the largest UK-listed energy companies. In ten years of doing business in Russia, Sibir’s Western management team has partnered with its largest Russian shareholder to overcome the challenges of doing business in this dynamic market and has strengthened the company at each turn.

Upstream, Sibir’s production comes from its Yuzhnoye field, operated by Magma Oil Company (95% Sibir owned), and its joint venture with Shell in the Shell-operated Salym group of fields (50% Sibir owned). Sibir’s total current production is over 80,000 barrels of oil per day (bopd), including its 50% of production from the Salym Fields and its wholly owned Magma production unit. By the end of 2009 Sibir’s total production is expected to exceed 100,000 bopd.