Tethys Petroleum has officially opened its Aral Oil Terminal (AOT), a new oil storage and rail loading terminal in Kazakhstan for oil shipments from the company’s Doris oil field into the Kazakh rail system.
The terminal is owned and operated through a 50:50 joint venture by Tethys and its Kazakh oil trading partner’s company, Olisol Investment.
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It is located 230km from the Doris field, reducing the distance oil is currently trucked on the road.
The completion of the terminal enables Tethys to initially double its production to about 4,000 barrels of oil per day because of this significant reduction in truck hauling.
The new facility is dedicated to Tethys’ oil sales and will help the company avoid the bottlenecks at the current rail loading point at Emba, which are experienced due to overuse by many other companies.
First commercial shipments through AOT are due to begin in February 2012. The company expects to reduce transportation costs by providing a closer offloading point, resulting in an increased realised oil price.
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By GlobalDataMore than 13,000 barrels of oil per day have been tested so far from exploration and appraisal wells in and around the Doris accumulation.
Tethys also plans to expand the capacity of the new terminal to 12,000 barrels of oil per day over the next year.
AOT will also provide a closer offloading point for refined oil products, equipment and materials required on the Doris exploration and appraisal programme, resulting in significant cost savings to Tethys.
Tethys focuses on oil and gas exploration and production activities in Central Asia, with current activities in Kazakhstan, Tajikistan and Uzbekistan.
