Condor Commences Commercial Oil Production from Shoba, Kazakhstan

Canada-based oil and gas company Condor Petroleum Inc. has commenced commercial oil production at its 100 percent owned Shoba oilfield in Kazakhstan.

Current stabilized production is exceeding 500 barrels per day, says Condor, and oil sales are expected to resume in the fourth quarter. During the second quarter of 2016, Condor received $20.21 per barrel for Shoba oil previously held in inventory. The company announced September 8 that it had received the Shoba Production Contract from the Government of Kazakhstan.

In addition to the latest developments at the Shoba oilfield, Condor revealed Tuesday that the Taskuduk Production Contract is expected to be signed in the fourth quarter of 2016 and will provide for additional commercial production at Condor’s 100 percent owned Taskuduk oilfield in Kazakhstan.

Predicting a short-term rise in production, oil and gas analysts at FirstEnergy Capital are forecasting Condor’s production from Kazakhstan to rise to 731 barrels per day in the fourth quarter of 2016.

Condor revealed that the Poyraz 5 well in Turkey has also reached a total depth of 6,161 feet and wireline operations are underway. Poyraz 5 will be cased and suspended as a future gas producer.

The next well to be drilled in the Poyraz Ridge development plan is expected to be spud by mid-October. Condor confirmed that the Poyraz Ridge development continues to target first gas in mid-2017, providing access to cash flow from a region with strong domestic gas demand and pricing.

A graduate in journalism from Cardiff University, Andreas has eight years of experience as a business journalist. Email Andreas at


Click on the button below to add a comment.
Post a Comment
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.


Our Privacy Pledge

More from this Author
Andreas Exarheas
Assistant European Editor | Rigzone
 -  Eco-Friendly Tech Not Vital for Studen... (Mar 29)
 -  More Offshore Drilling Firms Likely to... (Mar 29)
 -  Right Fiscal Regime Needed for Hurrica... (Mar 28)
 -  BLOG: Brexit Likely to Have Direct Imp... (Mar 28)
 -  Unite Calls for Safety Transparency Af... (Mar 27)

Most Popular Articles

From the Career Center
Jobs that may interest you
Lease Operator
Expertise: Production Operator
Location: Carlsbad, NM
Facilities Engineer - Midstream Engineering
Expertise: Production Operator
Location: Platteville, CO
United States Williston: Operator Assistant II - Surface Solutions
Expertise: Production Operator
Location: Williston, ND
search for more jobs

Brent Crude Oil : $52.42/BBL 2.12%
Light Crude Oil : $49.51/BBL 2.35%
Natural Gas : $3.17/MMBtu 2.25%
Updated in last 24 hours