London-based Urals Energy has secured a $270 million loan to pay back debt and turn the Dulisminskoya field in Eastern Siberia into a 30,000-barrel-a-day producer by 2011.

The company will also pay back a Goldman Sachs loan before readying the extraction of 464 million bbls believed in place at Dulisminskoye.

The long-term facility from Sberbank, Russia’s largest lender, will help Urals business Dulisma and use parent-company shares as collateral. A first $130 million will be used to pay back Goldman Sachs.

The Company has delivered a first rig to the field and a second is due in April 2008. Land has been cleared for drill pads, infield roads, camps and a central processing facility.

Management expects first oil to flow into Transneft’s pipeline ESPO pipe network by 2009.