Sibir Spuds Orekhovskoye Development Well

Sibir today announces that it has spudded the first development well at the Orekhovskoye oil field in the Khanty-Mansiysk Autonomous District of western Siberia. The field is operated by Sibir subsidiary OAO Magma (‘Magma’) and holds 49 million barrels of C1 and 5.3 million barrels C2 under the Russian reserves classification system.