Tethys Petroleum Limited, the oil and gas exploration and production company focused on Central Asia and the Caspian region, has received approval from the Kazakh Ministry of Oil and Gas for the extension its Kyzyloi Production Contract for a further 15 years to June 2029, the company reported.
The contract area currently covers some 287 square kilometers (70,918 acres), and the company 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.
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.
