Joint venture: at Salym
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Shell 'eyeing Sibir slice'
Anglo-Dutch supermajor Shell is poised to take a large stake in AIM-listed Sibir Energy by the end of the year, it was reported today.
A deal would probably involve Sibir taking full control of the two companies’ Salym oilfield 50-50 joint venture, a person close to the negotiations told the Finiancial Times. Output at Salym is about 133,000 barrels per day.
The FT added that Sibir has postponed plans to migrate to the main board of the London Stock Exchange in order to devote more management time to a possible Shell deal. The move to the main board is now pencilled in for June.