The Kazakhstan Ministry of Oil and Gas has awarded a 15-year extension to Tethys Petroleum’s Kyzyloi production contract until June 2029.
Tethys currently produces gas from shallow sandstone reservoirs within the 287km² Kyzyloi contract area. It said that the contract extension allows significantly more time to develop the area.
Tethys Petroleum executive chairman and president David Robson said: "I would like to take this opportunity to recognise 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."
The company has recently completed drilling and logging of the fourth well in its 2014 shallow gas drilling programme in Kazakhstan.
The AKK20 well was drilled down to 681m with hydrocarbon indications within the target Tasaran sand.
Tethys is currently focused on Central Asia and the Caspian Region with projects in Kazakhstan, Tajikistan and Georgia.
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By GlobalDataThe company owns a 100% stake in the Kyzyloi and Akkulka proven shallow gas fields, 100% interest in Doris and Dione proven oil fields and a 100% stake in the Kul-Bas exploration and production contract in Kazakhstan.
