Petrosibir: 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.

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