Salym Petroleum To Spend $278 For Siberia Fields

Salym Petroleum Development, a joint venture between Shell and Sibir Energy's Evikhon announced it will assign $278 million for the operations and continued development of the Salym Group of oil fields in Western Siberia in 2005.

This decision was made by the Supervisory Board of Salym Petroleum, which holds the licenses for development of the three Salym fields ? West Salym, Upper Salym and Vadelyp. SPD is a 50/50 joint venture between Shell Salym Development B.V. and Sibir Energy's Evikhon subsidiary.