Koltogorsky Blocks

 
In March, 2007 Sibir announced the acquisition of a 520,000 acre (2,100 km2) exploration license area situated across eight blocks in the Khanty-Mansiysk Autonomous Area of Western Siberia with an estimated 970 million barrels of C3 resources under the Russian reserves classification (click here for map).   
  • 2,500 kilometers of 2D seismic already completed, identifying 35 oil traps at depths of 2,600 to 3.200 meters
  • Sibir will drill eight explorations wells - one in each block - by the end Q1 2009.  Sibir subsidiary, Magma, will operate
  • Located in one of the most prolific producing regions in Russia with excellent in-place infrastructure (power lines, gas and oil pipelines, paved road)
  • Situation near the operations base of Sibir subsidiary, Magma, will allow for cost effective exploration and development operations
  • 11 exploration wells were drilled over the course of 2009
  • a new reservoir was discovered which Ñ1+Ñ2 recoverable reserves are estimated at 260 mln barrels of oil