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[i].
Contact Information
Buried Hill Serdar Limited
15/1 Mollanepes Street
Kopetdag etrap
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 former Sedar Field.
For nearly three decades, the offshore Serdar Field had been the source of a heated territorial dispute between Turkmenistan and Azerbaijan. However, following a number of diplomatic maneuvers by both countries, including a declaration of strategic partnership[iii] and the ratification of the Caspian Convention[iv], Turkmenistan and Azerbaijan have seemingly come to a resolution of the territorial dispute after a video conference this previous January. Presidents Berdymukhamedov and Aliyev announced a Memorandum of Understanding regarding the development of the disputed field, now named Dostluq, as well as cooperation within the transportation and energy sectors.[v]
The memorandum will see joint exploration and development of the Dostluq field. According to Abc.az news[vi], production at the field will commence in 3-5 years. Buried Hill is likely to retain a role in the field’s development based on their previous work. In 2008, a Buried Hill delegation and Berdymukhamedov met to discuss the company’s progress, which consisted of seismic operations and a plan to commence drilling by the end of the year.[vii] Another meeting between the company’s Executive Chairmen, Peter Kallos, and Berdymukhamedov in November 2018, emphasized the company’s continued interest in the field’s development and the President’s interest in a longer-term partnership.[viii]
Current Scope of Operations
According to Buried Hill’s website, the company has completed seismic studies and initial development plans for surrounding fields.[ix]
Buried Hill Energy was one of the gold sponsors for both the 2010 and 2012 Turkmenistan International Oil and Gas Conference (OGT).[x] More recently, the company was a bronze sponsor of the 2021 OGT and a silver sponsor for both 2020 and 2019.[xi]
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[i] Buried Hill Energy, https://buriedhill.com/. Accessed February 17, 2022.
[ii] Buried Hill Energy, http://www.buriedhill.com/company.php. Original weblink no longer active.
[iii] Kupfer. “Azerbaijan-Turkmenistan: Energy Cooperation or Competition,” Eurasianet, https://eurasianet.org/azerbaijan-turkmenistan-energy-cooperation-or-competition. Accessed November 4, 2021.
[iv] Mehdiyev. “Azerbaijani parliament approves historic document on Caspian Sea.” Trend, https://en.trend.az/azerbaijan/society/3018302.html. Accessed November 4, 2021.
[v] Pannier. “Analysis: Turkmenistan, Azerbaijan Resolve A 30-Year Dispute Over Caspian Field.” Radio Free Europe/ Radio Liberty, https://www.rferl.org/a/analysis-turkmenistan-azerbaijan-resolve-a-30-year-dispute-over-caspian-field-/31063736.html. Accessed November 4, 2021.
[vi] ABC.AZ, “Date of start of production at Dostluq field announced,” http://abc.az/ru/news/79827. Accessed November 4, 2021.
[vii] Buried Hill Energy, http://www.buriedhill.com/news/index.php?m=02&y=08&d=14&entry=entry080214-091454. Original weblink no longer active.
[viii] Hasanov, Huseyn. Trend, “Buried Hill Energy, Turkmenistan mull joint development of Caspian hydrocarbons,” https://en.trend.az/casia/turkmenistan/2986070.html. Accessed February 17, 2022.
[ix] Buried Hill Energy, Turkmenistan, http://www.buriedhill.com/Operations/Turkmenistan/. Accessed February 17, 2022.
[x] 17th Turkmenistan International Oil and Gas Conference, “Sponsors,” Turkmenistan Oil and Gas Conference; http://www.oilgasturkmenistan.com/sponsors. Original weblink no longer active.
[xi] 26th Turkmenistan International Oil and Gas Conference, https://www.ogt-turkmenistan.com/en. Accessed November 4, 2021.