A former Soviet Union Republic, Kazakhstan has been endowed with a rich hydrocarbon resource base second only to Russia. The Caspian region has one of the richest worldwide oil reserves, and the pre-Caspian basin is the largest sedimentary basin in the world.
The country and the region as a whole, conveniently located near to the world’s largest and fastest-growing energy markets to its east, west and south is emerging as an important contributor to global energy supplies and to the world energy security.
Kazakhstan offers a politically stable environment with a well-defined rule of law for hydrocarbon exploration and extraction.
Regional cooperation in energy infrastructure, exports and trade, specifically China and Europe are accelerating investments in the energy sector in Kazakhstan.
With the application of advanced technologies, cost-saving production optimization and leveraging off Condor’s expertise and experience in the region, Kazakhstan offers significant potential opportunities in a well advanced portfolio of prospects with exploration.
Condor Petroleum, through its wholly-owned subsidiary Falcon Oil & Gas Ltd. has a 100% working interest in the Zharkamys West 1 (ZW1) Licence, located in the south-eastern flank of the Pre-Caspian Basin. The Pre-Caspian Basin is a world class petroliferous basin, which has been explored since the early 1900’s resulting in discoveries exceeding 46 BBO. Although largely the domain of the super majors (Chevron, ExxonMobil, ENI, Shell, Total and BG) and the NOC’s with several of the world’s largest oil & gas fields (Kashagan, Tengiz, Astrakhan), Condor recognized a wide range of niche investment opportunities for a mid-sized company targeting the full spectrum of rank exploration through to development and production optimization opportunities where projects lacked the technical know-how, technologies and operational expertise required to develop the resources.
Condor currently has 79 prospects identified by proprietary high-resolution 3D seismic. The ZW-1 contract/permit clearly contains all the salient elements critical for the generation, migration and accumulation of significant hydrocarbons. Prospect sizes range from relatively shallow (post-salt) depths varying from 10-15MMBO; intermediate (Primary basin) depths varying from 30 – 40MMBO; to deep (Pre-Salt) in the 100+MMBO range.