Sibir’s History

 

Sibir Energy plc (Sibir) was founded in 1996 to look for opportunities to invest on the territory of the former Soviet Union, particularly in Russia.

 

In 1996 Sibir set up a joint venture with Shell Salym Petroleum Development N.V. to develop the Salym oil fields.

 

In 1997 Sibir’s management moved to the Moscow office. The same year Sibir got listed on the Alternative Investment Market (AIM) of London Stock Exchange and had been quoting there from 1997 to 2009. At the same time Sibir was acquiring assets in extraction, refining and realization of oil products.

 

In 2007 “Central Fuel Company” OJSC becomes a shareholder of Sibir, the company wholly owned by the City of Moscow. As a result of this transaction Sibir has become a vertically integrated oil company that combines crude oil production in Western Siberia and the crude refining capabilities at the Moscow Oil Refinery. Sibir also realizes oil products in the fuel market of Moscow and Moscow Region.

 

In 2009 Gazprom Neft became the major shareholder of Sibir and started to control the company. The same year Sibir was delisted on the Alternative Investment Market of London Stock Exchange.

 

Now Gazprom Neft holds over 80% of the stake and “Central Fuel Company” OJSC holds over 18% of the Sibir ordinary share capital.

 

In 2009 Sibir’s total production came to 30 million barrels per year. Now Sibir’s total production makes up 92,000 barrels of oil per day.