Independent study identifies immediate market opportunities in Peru and Ecuador, with scalable long-term export options.
Independent Assessment Confirms Strategic Potential
OPC has completed an independent market and commercialisation study for Condor Energy’s Piedra Redonda gas field, located offshore in the Tumbes Basin, Peru.
The study confirmed Piedra Redonda as a uniquely advantaged resource with both near-term monetisation potential and long-term strategic value.
Immediate opportunities were identified in supplying gas-to-power and compressed natural gas (CNG) to northern Peru and neighbouring Ecuador. Longer-term, the field also presents scalable export options via pipeline and potential LNG/FLNG development at larger resource scales.
A Phased Roadmap to Development
One of the key findings of the study was the opportunity to pursue a staged development strategy. This phased approach would allow Condor to:
- Deliver early-to-market gas-to-power and CNG projects to generate initial cash flow.
- De-risk the reservoir by testing deliverability and production performance.
- Expand into larger-scale export solutions, including pipelines and LNG, as market demand and reserves grow.
This flexible pathway positions Piedra Redonda to supply immediate energy needs while building long-term export potential.
Serge Hayon, Managing Director of Condor Energy, welcomed the study’s findings:
"Engaging OPC for our Piedra Redonda Gas Market study has been an important step forward. Their work provided clarity on market opportunities and practical pathways to advance commercialisation of this discovered resource.”
OPC Chief Operating Officer Riley Smith says:
“We are delighted with the outcomes of this study, which highlight both immediate opportunities and long-term value for Piedra Redonda. It reinforces OPC’s ability to provide independent, world-class advice across the entire value chain and demonstrates the strength of our diversified consulting offering. We look forward to working alongside Condor Energy as the project progresses.”
Delivering Market Clarity and Commercial Pathways
OPC’s integrated team of subsurface, wells, facilities and commercial experts combined technical insight with market analysis to deliver a robust assessment of Piedra Redonda’s commercialisation options.
The study demonstrates that the field’s location, high-quality gas, and growing regional demand create strong conditions for development. With supportive infrastructure and regulatory frameworks in place, Piedra Redonda stands out as a strategic energy asset for Peru and the wider region.
If you would like to discuss how OPC can support your project with independent insight and practical solutions, get in touch with our team.
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