Condor Petroleum Inc. (“Condor” or the “Company”) (TSX: CPI), a Canadian based oil and gas company focused on exploration and production activities in Turkey and Kazakhstan, is pleased to provide an update on the Poyraz Ridge gas project in Turkey.
Construction of the Poyraz Ridge central processing facility (“CPF) and the 16 km connector pipeline have been completed. Pre-commissioning activities have been successfully performed at the CPF, introducing gas to the various processing components. The connector pipeline has been tied into the national pipeline system and is currently undergoing acceptance testing.
Gas production is expected to commence in the fourth quarter of 2017 following the final commissioning of the CPF, acceptance of the pipeline, and once the customary approvals such as entry point assignment and capacity reservations are issued by the various government agencies.
Don Streu, President and Chief Executive Officer commented “Our team is very proud to have completed Poyraz Ridge construction activities in just 19 months after acquiring the property. Importantly, this work was performed with no injuries to personnel or environment incidents. We expect first gas to commence this quarter, yielding positive cash flow from our Turkish assets”.