The addendum extends the duration of the PSA to February 2032 and a 10% stake out of the contractor share is transferred by Eni, operator of the block, to Turkmenneft.
Eni will keep the remaining 90% interest stake in the PSA. This agreement will enable further E&P investments in Burun and other satellite fields of the Nebit Dag block.
Production is essentially from the Burun oil field, whose oil is processed at the Turkmenbashi refinery and the associated gas is used for gas lift.
Eni sell the remainder to Turkmenneft via the local network. In terms of development activities, the company has drilled new wells and implemented a workover programme – a series of extraction or production completion processes for wells – to counteract their natural decline in production.
The company reduced flaring emissions by 8% compared to 2017, reaching zero flaring in Burun, and have reduced emergency flaring.
Burun consists of 150 wells connected via a gathering system to a Separation and Pumping Plant (SPP). The project comprises the construction of the treatment facilities, the laboratory and the office buildings and the improvement of the hydric and electric infrastructures.
