Condor Energy Ltd. has completed an independent development concept and feasibility study for its Piedra Redonda gas discovery offshore Peru, representing an important milestone in progressing the project towards commercial development.
The study, delivered by independent engineering consultancy Agile Energy, establishes a technically and economically robust framework to guide Condor’s ongoing gas sales negotiations, project financing, and strategic joint-venture partnerships.
Holding an independently certified 2C Contingent Resource of approximately one trillion cubic feet (Tcf) of natural gas, Piedra Redonda stands as one of the largest undeveloped conventional offshore gas discoveries on the west coast of South America. Its shallow-water location and close proximity to shore offer highly favourable project economics.
Condor Managing Director Serge Hayon said: “Piedra Redonda remains one of the largest undeveloped offshore gas discoveries on the west coast of South America.
“Completion of this study demonstrates a technically and economically robust development solution.
“The development concepts evaluated utilise simple and proven conventional shallow-water offshore infrastructure and a wide range of gas sale scenarios to support commercial offtake agreements.”
Agile Energy evaluated two primary configurations to allow Condor to remain flexible as regional demand and commercial requirements evolve.
Concept one involves a single wellhead platform tied back to an onshore receiving facility, designed to process 30 to 80 million standard cubic feet per day (MMscfd).
The second proposed option involves a larger-scale operation featuring two platforms delivering 100 to 150 MMscfd.
Both options offer the potential to tie in nearby underutilised fields, such as Corvina, while also highlighting the cost-saving potential of reusing existing offshore wellhead infrastructure.
With the technical foundation now firmly established, Condor is turning its focus to progressing its licence contract application alongside commercial discussions.
The study successfully positions Piedra Redonda to transition toward front end engineering design (FEED) and future project execution.
