Condor Petroleum Inc., Calgary, said Kazakhstan has expanded the size of the company’s Zharkamys West 1 Territory in the North Caspian basin by 43% or 278,000 acres to a total area of 923,000 acres.
The company targets additional presalt and primary basin exploration plays on the new acreage. It has identified numerous prospective structures and plans to shoot 3D seismic to fully characterize the resource potential.
The Zharkamys expansion has been approved by the Ministry of Oil and Gas of the Republic of Kazakhstan and is expected to be added to the current exploration contract. The proposed minimum work program is an additional $2.9 million.