Burren Energy wants to expand operations in Turkmenistan

Jul 05, 2006 02:00 AM

Burren Energy, a London based oil and gas company, is likely to expand its operations in Turkmenistan. During a meeting, President Niyazov invited Burren Energy to branch out in the natural gas sphere and the Caspian sector of Turkmenistan.
Finian O'Sullivan, Chief Executive of Burren, promised to study the prospects of broader cooperation with Turkmenistan and told that he would return in October this year with some definite proposals.

Commenting on Niyazov’s offer for participation in the gas sector, O'Sullivan said, “[President Niyazov] gave us guidance and direction on the issues of gas and where the gas will be marketed.”
“Even though our interest is a lot smaller -- we are small provider of gas -- but we could increase and he recognizes that,” said O'Sullivan.

O'Sullivan said that he would work with the Turkmen ministry of oil and gas for studying the Caspian blocks.
“This is the program that we intend to do. It is a very large investment and we will probably look for participating with partners who may be able to share the investments with us.”

During the meeting, Niyazov thanked Burren for active contribution in the development of Turkmen economy and training of Turkmen specialists. In across the board review, Burren also expressed satisfaction on its interaction with Turkmenistan.
“We talked about the last ten years of activity in the Balkanabat region, in oil and gas exploration, production and development. We also discussed the issues of activities in the region, and about the numbers of our work force and national Turkmen citizens working for Burren Energy, the states of activities and the future development in the region. His Excellency congratulated us on our work done in the last ten years and provided us with the excellent foundation to further invest and continue to create jobs and new products for our work in the region,” Finian O'Sullivan told.

Atul Gupta, chief operating officer of Burren Energy, and Akhtar Sharif, general director of Burren Resources Petroleum, were also present during the meeting. Ambassador Peter Butcher of Great Britain accompanied the Burren delegation.
Burren, an energy partner of Turkmenistan for the last ten years, is 100 % PSA holder of a sector in Nebitdag (Balkanabat) with current production exceeding 15,000 bpd.

Here is the information available at the Burren website (www.burren.co.uk) about their present activities in Turkmenistan:
“The Nebit Dag PSA area (1,050 km) is located onshore in western Turkmenistan and contains five developed oil and gas fields. Burren has production rights to the Burun field, at the western end of the area, as operator with a 100 % working interest. The other four fields within the PSA area (Kyzl Kum, Kum Dag, Kara Tepe and Nebit Dag) are operated by the state oil company Turkmenneft. Burren has exploration rights over the rest of PSA area under an exploration licence which expires in February 2007. The PSA term runs until 2022, and may be extended for a further 10 years by mutual agreement with the Turkmenistan government. Burren has been the operator of the PSA since 2000.”

“At the end of 2005, the Burun field was producing approximately 19,000 boepd from 135 wells. Development to date has been primarily on the north flank of the field whilst the south flank remains to be appraised. Prior to 2004, well activity consisted of workovers to return shut-in wells to production. Development drilling commenced in 2004. Average working interest production during 2005 increased by 35 % to 15,410 boepd (2004: 11,430 boepd).”
“Gas-lift is now installed on most of the Burun field wells. Oil separation, treatment and storage facilities were upgraded during 2005. A pilot water injection scheme is expected to be implemented during 2006 which, if successful, will be rolled out across the field to provide reservoir pressure support and enhance oil recovery rates.”

“Burun crude is a light high quality low sulphur crude with an API gravity of 33. Burren has unrestricted rights to the export of its share of crude, which is sold on an FOB basis from Turkmenistan Caspian Sea ports.”
“Exploration drilling outside Burun began in late 2005 and is expected to continue throughout 2006. Overall production of Burren is 33,000 bpd and the concessions are located in Turkmenistan and Congo, Egypt, Yemen and Oman. Burren is also a minority holder in Hindustan Oil Exploration Company.

In addition to its oil and gas exploration and extraction activities, Burren is running a fleet of eight Russian-flagged oil tankers under a bare-boat charter from Volgotanker, Russia’s leading river-sea shipping company. The total deadweight capacity of Burren fleet is 38,000 tons.
The charter is renewable annually at Burren’s option and expires in December 2014. The vessels operate in the Caspian sea and the southern Russian Volga-Don river system carrying crude for third parties.

Source: AzerTag
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