Russia raids London oil firm s

July 9, 2009

, MOSCOW, July  9 – Russian investigators raided the offices of London-listed oil producer Sibir Energy as part of a probe into the past dealings of two of its subsidiaries, the company said.

Sibir Energy said the investigators were seeking documents related to the activities of its subsidiaries Moscow Oil Company (MOG) and the Moscow Oil and Gas Company (MOGC) in 2002-2003 and 2006 respectively.

These periods relate to the time before these two current Sibir Energy subsidiaries became part of its structure.

"There are no investigative actions being carried out regarding Sibir Energy plc," the company\’s statement said.

The Interfax news agency said the raid was confirmed by the economic security department of the interior ministry.

Earlier this month the oil subsidiary of the world\’s biggest gas company Gazprom — Gazpromneft — said it had won control of Sibir Energy after taking over one of its shareholders.

Created in 1996, Sibir Energy has attributable reserves of over 680 million barrels and production of over 80,000 barrels of oil per day.

Trading in Sibir Energy shares in London is currently suspended pending an investigation into erroneous disclosures relating to controversial real estate dealings with former major shareholder Chalva Tchigirinski.

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