Buried Hill

BURIED HILL ENERGY
www.buriedhill.com

Company Information
Incorporated in 2002, Buried Hill Energy (Cyprus) Public Company Limited is an upstream oil and gas exploration company that is focused on Turkmenistan and The Gambia.[i]

Contact Information
Buried Hill Serdar Limited
15/1 Mollanepes Street
Ashgabat, Turkmenistan
744000
info@nullburiedhill.com

History in Turkmenistan
Buried Hill Energy began exploring project possibilities in Turkmenistan in 2003.[ii] In November 2007, the company signed a Production Sharing Agreement with the government of Turkmenistan and was issued an exploration license to develop offshore Block 3, which includes the Serdar Field.

Over the past decade, the offshore Serdar Field has been the source of a heated territorial dispute between Turkmenistan and Azerbaijan. Called the Kyapaz Field by Azerbaijan, the field is reputed to contain large oil reserves and has been claimed by both governments. As the legal status of the Caspian is as yet unresolved, it is unclear how the ownership of the Kyapaz/Serdar Field will be determined. Some speculate that the reopening of the Turkmen Embassy in Baku under Berdymukhammedov, and the renewed efforts on the part of both countries to develop diplomatic relations may result in a joint agreement on the development of this field.[iii]

In February 2008, a Buried Hill delegation met with Berdymukhammedov in Ashgabat. An article about the meeting, based on a report from the Turkmenistan State News Agency and posted to Buried Hill’s website, states that the discussion focused on the company’s progress, “including its current seismic operations over the Serdar field.”[iv] Buried Hill’s Chairman and CEO, Roger Haines, also confirmed that the company was on track to begin drilling at the offshore field before the year’s end.[v]

Current Scope of Operations
According to Buried Hill’s website, the company has completed seismic studies and initial drilling plans are being developed.[vi]

Buried Hill Energy was one of the “Gold Sponsors” for both the 2010 Turkmenistan International Oil and Gas Conference, and the 2012 Turkmenistan International Oil and Gas Conference[vii]

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[i] Buried Hill Energy, http://www.buriedhill.com/. Accessed February 8, 2011.

[ii] Buried Hill Energy, http://www.buriedhill.com/company.php. Accessed November 16, 2008.

[iii] IHS Global Insight, “Iran Remains Obstacle in Quest for Multilateral Agreement on Caspian Sea,” 21 Apr. 2007, http://www.globalinsight.com/SDA/SDADetail9690.htm. Accessed December 1, 2008.

[iv] Buried Hill Energy, http://www.buriedhill.com/news/index.php?m=02&y=08&d=14&entry=entry080214-091454. Accessed November 16, 2008.

[v] Buried Hill Energy, http://www.buriedhill.com/news/index.php?m=02&y=08&d=14&entry=entry080214-091454. Accessed November 16, 2008.

[vi] Buried Hill Energy, Turkmenistanhttp://www.buriedhill.com/Operations/Turkmenistan/. Accessed February 8, 2011.

[vii] 17th Turkmenistan International Oil and Gas Conference, “Sponsors,” Turkmenistan Oil and Gas Confererence; http://www.oilgasturkmenistan.com/sponsors. Accessed July 5, 2012.