Sibneft Wins Oilfield Tender

Moscow, Tuesday 29th February 2000: Sibneft has won a tender for the Krapivinskoye oil field in the Omsk region, believed to harbor reserves of around 40 million barrels. The tender win brings Sibneft a step closer to its goal of developing its asset base outside its home base in Western Siberia.

Sibneft plans to develop the field in tandem with other acreage located in the same area. Development plans call for the fields to be linked to the Omsk refinery by a 300 kms pipeline.