OPC conducted a comprehensive independent market and commercialisation study for Condor Energy’s Piedra Redonda gas field, situated offshore in the Tumbes Basin, Peru. The study assessed both immediate and long-term commercialisation pathways for the field, identifying key opportunities and strategic development options.
Key Outcomes
Immediate Market Opportunities:
Identified potential for supplying gas-to-power and compressed natural gas (CNG) to northern Peru and neighbouring Ecuador, addressing regional energy demands.Long-Term Export Options:
Outlined scalable export solutions, including pipeline infrastructure and potential liquefied natural gas (LNG) or floating LNG (FLNG) development, contingent on resource growth and market conditions.Phased Development Strategy:
Recommended a staged approach to development, enabling early cash flow generation through gas-to-power and CNG projects, reservoir de-risking, and expansion into larger-scale export solutions as market demand and reserves increase.
"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."
