Canadian oil & gas company aims to start operations in Uzbekistan
BAKU, Azerbaijan, Aug. 14
By Ilkin Seyfaddini - Trend:
Canadian Condor Petroleum Inc. is in talks with the government of Uzbekistan on an agreement to operate five gas fields in the country, Trend reports citing the company.
The company is discussing the start of operation of five existing natural gas fields, as well as the development of related infrastructure.
The company has already provided the government of Uzbekistan with a detailed feasibility study and completed an independent assessment of gas reserves.
However, the progress in the negotiations is hampered by travel restrictions due to the coronavirus pandemic, the company added.
Condor Petroleum Inc started discussions with the Uzbek Ministry of Energy in February 2020. Canadian company expressed its willingness to invest more than $1.2 billion in the exploration of new gas fields in Uzbekistan.
Condor Petroleum Inc. has the largest and most technically advanced 3D seismic data collection and processing program in the Central Asia region. Its application has enabled the identification of 79 promising oil production sites with a combined resource of over 1.5 billion barrels.
Company has strong relations with the European Bank for Reconstruction and Development (EBRD), which has confirmed its readiness to cooperate with the company on the gas production project in Uzbekistan.
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