Foreign player takes over gasfields in Uzbekistan

Uzbekistan

TASHKENT, February 2, 2024 – Condor Energies has signed a deal to take over eight producing gas-condensate fields in Uzbekistan, the Canadian independent announced on Wednesday.

The production enhancement contract will pass operatorship from state-run Uzbekneftegaz to a local subsidiary of the new entrant.

Under the deal, Condor Energies is responsible for increasing production and recovery rates at the fields and will cover all rehabilitation costs in return for a percentage of revenues.

Operations are expected to begin in Q1 2024.

The company intends to implement artificial lift, workover and infill drilling programmes in addition to 3D seismic activities to up prospective recoverable reserves.

The acquired assets are an integrated cluster of fields located in the southwest of Uzbekistan near the Turkmen border.

The stacked-carbonate and clastic reservoirs are currently experiencing annual decline rates and low recovery factors.

Gas produced at the plays will be sold to Uzbekneftegaz.

Previously the company signed a deal with neighbour Kazakhstan to produce gas using modular technologies for the country’s upcoming LNG production facility that will produce 350 tonnes per day of LNG.