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Production launched at one more oil field in Kazakhstan

Oil&Gas Materials 19 October 2016 17:22 (UTC +04:00)
Condor Petroleum Inc. has commenced commercial oil production at the Taskuduk oil field in Kazakhstan

Production launched at one more oil field in Kazakhstan
Baku, Azerbaijan, Oct. 19
By Elena Kosolapova – Trend:
Condor Petroleum Inc. has commenced commercial oil production at the Taskuduk oil field in Kazakhstan, the company said.

The production from Taskuduk compliments the Shoba commercial production, which began in September.
“The combined flow rates from these oil fields have exceeded an average of 600 barrels per day to date during October,” the company said.

The company has signed the first sales contract since commencing commercial production at the approximate wellhead price of $29 per barrel, which, after deducting royalties, provides a netback of $28 per barrel.

Condor is a Canada-based oil and gas company with a 100-percent working interest in four contiguous production licenses covering 171 square kilometers located in the Gallipoli Peninsula in Turkey, a 100-percent interest in the production rights to the Shoba and Taskuduk oil fields and a 100-percent interest in the exploration rights to the 3,777 square kilometers Zharkamys West 1 Territory, located in the Pre-Caspian basin in Kazakhstan.

Follow the author on Twitter: @E_Kosolapova

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