Corporate Overview
Caspian Oil & Gas Limited (ASX:CIG) is an oil producer and explorer listed on the Australian Stock Exchange (ASX) and its registered offices in Perth, Western Australia.
Caspian has exploration licences covering approximately 12,000sq km in Central Asia’s Kyrgyz Republic in the midst of one of the world’s major oil-producing regions which stretches from the Caspian Sea through to the Tarim Basin in North West China.
Agreements
Caspian has an agreement with Santos International Operations Pty Ltd (a subsidiary of Australia's second largest oil company) whereby Santos can earn 80% equity in the projects by spending US$24,000,000 on exploration and development on a staged basis. Santos is in the second phase of the earn-in, involving a 600-700km seismic acquisition programme.
Caspian retains the right to explore and develop shallow reservoirs within four northern licences contained in the Santos Joint Venture, and has a separate farm-in arrangement with KNG, the Kyrgyz Government owned oil company, to develop the Mailisu III oilfield.
Corporate Objectives
Caspian’s objectives are to:
1. maximise shareholder value through exploration, discovery and production of oil & gas.
2. operate at all times with a high social, environmental and ethical awareness.