Production report for March 2019
Petrosibir's total oil production in Bashkiria during March 2019 amounted to 35,027 barrels, equivalent to 1,130 barrels per day.
The table below summarises the average monthly / daily production in 2019 and 2018, broken down by region.
| 2018 | 2019 | |||
| Average | Jan | Feb | Mar | |
| Total production | ||||
| Bashkiria | 12 916 | 11 884 | 10 607 | 9 826 |
| Komi | 27 778 | 23 883 | 21 981 | 25 201 |
| Total barrels | 40 694 | 35 767 | 32 587 | 35 027 |
| Per day | ||||
| Bashkiria | 425 | 383 | 379 | 317 |
| Komi | 914 | 770 | 785 | 813 |
| Total barrels per day | 1 339 | 1 154 | 1 164 | 1 130 |
The production decline during March in Bashkiria was primarily caused by shutting down well #12 for a workover to replace the ESP and tubing that has been in operation for a remarkable period of over 5 years. In addition, we observed overall slight decline in production due to the natural decline in reservoir pressure.
Petrosibir owns 100% of the Russian company Ingeo Holding, which holds a production licence in Bashkiria. Petrosibir also owns 49% of the Cypriot company Ripiano, whose wholly owned Russian subsidiaries hold three production licences in Komi.
Stockholm, 16 April 2019
For more information, please contact:
Pavel Tetyakov, CEO, +46 8 407 1850
[email protected]
Gunnar Danielsson, deputy CEO and CFO, +46 70 738 0585
[email protected]
About Petrosibir
Petrosibir is a Swedish company focused on exploring and developing concessions in Russia. The company holds licences in the Russian republics of Bashkiria and Komi. Petrosibir's 2P oil and gas reserves amount to 35 million barrels of oil equivalent. The Petrosibir share is traded on the OTC-list at beQuoted under the symbol PSIB-B.
This is an English translation of the Swedish original. In case of discrepancies, the Swedish original shall prevail.
Om Petrosibir
Petrosibir är ett svenskt bolag med inriktning på prospektering och utvinning av olja och gas i Ryssland.
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