Sibir is pleased to confirm the contents of a joint press release issued by MOGC and Gazprom Neft on Friday 7 March 2008 in which it was announced that:

 

 

Commenting on this press release Henry Cameron CEO of Sibir said “The Memorandum of Understanding between MOGC and Gazprom Neft signed at the end of 2007 by Yuri Lushkov, Moscow Mayor and Chairman of MOGC and Alexey Miller, Chairman of Gazprom the parent of Gazprom Neft signalled the desire on the part of MOGC and Gazprom Neft to end their long running and destabilising disputes related to the Moscow Refinery.  The cancellation of legal actions and the nomination of an independent General Director demonstrate the commitment on the part of both parties to fulfill the Memorandum and that material progress has been made in its implementation.”