Tethys Petroleum confirms 15-year Kazakhstan licence extension

Submitted by Paddy Harris on Thu, 2014-06-19 10:48

19th June 2014

Tethys Petroleum has received approval from the ministry of oil and gas of the Republic of Kazakhstan (MOG) for the extension its Kyzyloi Production Contract for a further 15 years to June 2029

Tethys Petroleum confirms 15-year Kazakhstan licence extension

This contract extension will give Tethys significantly more time to produce natural gas from this attractive area

The contract area currently covers some 287 square kilometres, and Tethys is currently producing gas from the shallow Kyzyloi sandstone in this area. This contract extension will give Tethys significantly more time to produce natural gas from this attractive area.

"I would like to take this opportunity to recognize the Tethys team for their hard work in successfully achieving this contract extension and for their ongoing contributions and dedication that make Tethys the successful Company that it is today,” said David Robson, executive chairman and president of Tethys.

Tethys is focused on oil and gas exploration and production activities in Central Asia and the Caspian Region with activities currently in the Republics of Kazakhstan, Tajikistan and Georgia. This highly prolific oil and gas area is rapidly developing and Tethys believes that significant potential exists in both exploration and in discovered deposits.