Burren Energy Delegation Meets Berdymuhammedov

Ashgabat, 26 April 2007 (nCa) --- A top level delegation of the British firm Burren Energy had a meeting Thursday with President Berdymuhamemdov.

 

The delegation, consisting of Finian O’Sullivan, president of Burren, Atul Gupta, vice president, and Akhtar Sharif, Burren director general in Turkmenistan, discussed a broad range of subjects with the Turkmen president. Ambassador Peter Btucher of Great Britain was also present during the meeting.

 

Three topics stood out during the meeting between the Burren delegation and the president of Turkmenistan: 1. Prospects of further investment by Burren in Turkmenistan, 2. Marketing of natural gas from the present concessions of Burren in Turkmenistan, and 3. Education of Turkmen workers at various British educational institutions including the Reading University.

 

President Berdymuhammedov promised to closely examine the offers made by Burren. He said that Turkmenistan was always open for cooperation on the basis of equality and mutual benefit.

 

Burren activities in Turkmenistan have created jobs for more than 1000 citizens of Turkmenistan.

 

Current crude production from Burren concession in Nebit Dag has exceeded 3000 tons per day. This year Burren is expected to extract 1.127 million tons of crude.

 

The Burren delegation presented a rare book – Wonders of Creation by Zahri bin Muhammad bin Mahmood al Mamuny al Kazvini – to President Berdymuhammedov. The book was issued from Isfahan at the beginning of 16th century and it contains 112 unique illustrations.

 

Here is a brief quote from the Burren website:

 

“In 1995 Burren formed an alliance with Monument Oil & Gas Plc to acquire upstream projects in Turkmenistan which led to the signature of the Nebit Dag PSA in August 1996. Mobil joined the consortium later that year. The consortium of Monument (as operator), Mobil and Burren initiated a rehabilitation and development programme on the Burun field, the western-most field in the Nebit Dag PSA area, which led to the commencement of oil exports in May 1998. Following the takeover of Monument in June 1999 and the merger of Mobil and Exxon in December 1999, the consortium partners decided that Nebit Dag was not of strategic importance to their businesses and Burren acquired their interests, becoming operator with a 100 per cent. working interest in August 2000. On taking over operational control Burren cut on-site overheads and administrative and head office costs and terminated most sub-contracting agreements, bringing these services in house. These reductions in operating costs led to operations rapidly becoming cash-flow positive.

 

“Oil has been produced from fields within the Nebit Dag PSA area since the 1940s. The Burun field, which was producing oil at the time the PSA was signed and from which Burren presently derives the whole of its Turkmenistan production, was brought into production in the 1970s but was still under development at the time of the break-up of the Soviet Union.” /// nCa