TASHKENT, Uzbekistan, February 1. Condor Energies Inc. (Canada) has signed a contract with Uzbekistan to increase production and overall recovery rates of eight natural gas condensate fields in the country, Trend reports.
According to the Canadian company, the project helps increase domestic natural gas supply and reduce carbon emissions.
Condor, through a local subsidiary, will provide production enhancement services under an agreement with Uzbekneftegaz, a state-owned holding company of Uzbekistan's oil and gas industry.
The Canadian company plans to increase production by adopting modern technology and operating methods, reducing carbon emissions.
It intends to boost production by introducing artificial lift, perforating and well rehabilitation programs, and exploring deeper horizons in fields that have been successful in Uzbekistan's regions.
Natural gas will be sold to an authorized state body responsible for the purchase and sale of natural gas for use in the domestic market.
Condor will bear all costs of the project and, in exchange for providing its services, will receive a percentage of the net revenues generated from the project.
Work is expected to commence in the first quarter of 2024 following completion of the environmental baseline audit and technical inspections.
Additional field and production data will be collected shortly, followed by a report on reserves.