Burisma

Burisma is a private oil and gas company operating in Ukraine. Having started in 2002, the Company has grown rapidly to become one of Ukraine’s largest independent gas producers, with licences covering the country’s three key hydrocarbon basins, including Dnieper-Donets, Carpathian and Azov-Kuban. In September 2013, Burisma had average daily production of 10.5 ths boepd. All of Burisma’s production is sold to industrial customers in Ukraine. Burisma has a very strong reserve base – as audited by independent consultant DeGolyer & MacNaughton in August 2012 and in July 2013 – that would enable the company to at least double its current average daily production of 10.5 ths boepd within two years. The Company is unique in the way it has successfully applied cutting edge technology in Ukraine and now has an unrivalled record of successful drilling in the country. The Company’s licences are well diversified across the Country’s three key hydrocarbon basins. The reserve and resource base is easily accessible due to the favourable location of these assets, keeping the cost of production relatively efficient. Burisma has an extensive reserve base, providing significant near term potential for value accretion. The Company’s fields are located in all three of Ukraine’s key natural gas and oil regions (being the Dnieper-Donets, Carpathian and Crimean basins), which are the most industrially developed regions in the country and also have the country’s highest levels of natural gas consumption. Burisma’s fields are in close proximity to the major gas pipelines in Ukraine, and were fully connected to them.