OREANDA-NEWS. January 16, 2007. The total oil production of Salym Petroleum Development N.V (SPD - Salym Project operator) in 2007 in Salym fields increased more than twice compared with 2006 and made 4,26 million tons, the company press service reported. 108 new wells put on production, 291 km drilled in Salym fields in 2007, reported the press-centre of Salym Petroleum Development N.V.

It was reported in the company that in 2007 SPD not only entered   "positive   cash flow"   stage  but became   profitable and commenced loan repayment s  to its shareholders. The company reached oil production of 100,000 barrels per day a month ahead of schedule (November 2007). In 2008 SPD plans to exceed/surpass the level of average daily and annual total oil production reached in 2007.

Taxes to the federal and the regional budgets in 2007 made $190 million and $4,3 million respectively (for the first 6 months in 2007). Social investments in 2007 , in compliance with the Cooperation Agreement between KMAO Government and SPD, made $2,45 million. Total social investments of the company to the region from 2004 thru 2008 will make $9,5 million.
 
SPD is a joint venture established on a parity basis by Shell Salym Development B.V. and NK Evikhon (subsidiary of Sibir Energy plc). Since 2003 SPD has been developing Salym oil fields located in Khanty-Mansiysk Autonomous Region, 190 km of Nefteyugansk, and includ ing West Salym, Upper Salym and Vadelyp fields. In early December 2005  the project went into stream.

By the end of the current decade the total oil production in Salym fields under  the technological scheme will exceed 6 million tons (about 44 million bbl) per year. Total investment s in Salym  are estimated $1,27 billion.