Condor Petroleum Inc

CONDOR PETROLEUM INC. is a Canadian oil and gas company engaged in exploration and production activities in the Republic of Kazakhstan. Condor has a 100% interest in the exploration rights to the 3,777 square kilometer Zharkamys West 1 Territory located in Kazakhstan’s Pre-Caspian basin. The Company is listed on the Toronto Stock Exchange under the symbol CPI.

STRATEGY

Our mission is to increase stakeholder value by growing reserves, production and cash flow. Our strategies for achieving success are to:

• Drill an inventory of high impact exploration prospects, currently targeting up to 1.6 billion boe of unrisked prospective resources1
• Monetize existing oil discoveries, achieving sustained production
• Acquire additional oil producing assets with exploration opportunities

We are committed to developing energy resources in a manner that respects the environment and communities surrounding us.

Kazakhstan, geographically the largest of the former Soviet republics, and the ninth largest country in the world, possesses enormous fossil fuel reserves and plentiful supplies of other minerals and metals, such as uranium, copper, gold and zinc. It also has a large agricultural sector featuring livestock and grain. 

Since independence in 1991, Kazakhstan has achieved significant results in its efforts to attract foreign investment. Most of that investment has been in the natural resources sector. However, in recent years the government has been observed trying to change the emphasis on investment to cover a more diverse range of industries and sectors.

Kazakhstan’s current oil production is approximately 1.7 mmboe per day, and current domestic consumption is 0.2 mmboe per day. Daily production has more than doubled in the last decade and amply supported by a reported proven reserve bases of 30 bnboe. The country is targeting production of 2 mmboe per day by 2017 and 3 mmboe per day by 2030.

Such production targets are facilitated by the country’s substantial export infrastructure – rail terminals, railcars and pipelines – routes to transport oil north to Russia, west to Europe, and east to China.

There has been a longstanding presence of both oil majors and NOC’s in-country: Chevron, ExxonMobil, ENI, Shell, Total and BG holds stakes in the super-giant fields of Tengiz, Kashagan and Karachaganak while several NOC’s have significant interests in the vast Kazakh onshore fields.