Corporate Overview
Caspian Oil & Gas Limited (ASX:CIG) is an oil producer and explorer listed on the Australian Stock Exchange (ASX) with its registered offices in Perth, Western Australia.
Caspian has interests in eight Fergana Basin licences in the Kyrgyz Republic, placing it 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
Santos International Operations Pty Ltd (a subsidiary of Australia's second largest oil company) is earning 80% equity in seven of the projects by spending US$24,000,000 on exploration and development on a staged basis. Santos is currently completing a seismic acquisition programme on the licences.
Caspian retains the right to explore and develop shallow reservoirs within four northern licences contained in the Santos Joint Venture, and has a separate joint venture 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; and
2. operate at all times with a high social, environmental and ethical awareness.