Sibir Energy spuds Vadelyp field in Salym, sees production by end-Q4

LONDON (AFX) – Sibir Energy PLC said its 50:50 joint venture with Royal Dutch Shell last week spudded the first development well in Vadelyp, one of the Salym group of fields in Western Siberia.

Salym Petroleum Development NV plans to drill fourteen wells, complete eight wells, and bring the field into production by the end of the fourth quarter this year. Peak oil production from the field is expected to reach 24,000 barrels per day.

Sibir director Stuard Detmer said: ‘With all three Salym fields in production by the end of the year SPD will be on track to meet its year-end 2006 production rate target of 60,000 barrels per day.’

Forbes