Condor Energies Inc., Calgary, signed a heads of agreement (HoA) with the Ministry of Energy, the Ministry of Mining Industry and Geology, and Uzbekistan national energy company JSC Uzbekneftegaz (UNG) to advance plans to assume operations of eight existing gas-condensate fields along with two additional exploration blocks in Uzbekistan.
The HoA establishes the detailed framework for final negotiations and approval of definitive legal documents for an investment project aimed at increasing production rates and recoverable reserves, the company said in a release May 23.
If the definitive agreements are executed, Condor will implement a comprehensive field refurbishment, infill drilling, and an emissions-intensity reduction plan, it said. Produced gas will be processed under long-term agreements with UNG using fixed tariffs and sold domestically under long-term contracts with the state gas marketing company.
Condor also believes that the adjoining 1,070 sq km of exploration territory is prospective and that future exploration efforts could lead to the discovery of satellite fields.
Alex Procyk | Upstream Editor
Alex Procyk is Upstream Editor at Oil & Gas Journal. He has also served as a principal technical professional at Halliburton and as a completion engineer at ConocoPhillips. He holds a BS in chemistry (1987) from Kent State University and a PhD in chemistry (1992) from Carnegie Mellon University. He is a member of the Society of Petroleum Engineers (SPE).