Tethys Petroleum Limited is an oil and gas exploration and production company currently focused on Central Asia and the Caspian Region with projects in Kazakhstan, Tajikistan and Georgia. Tethys Petroleum has a diversified portfolio of assets including existing oil and gas production, frontier high impact exploration and unconventional resources. Tethys is a public company with its primary listing on the main board of the Toronto Stock Exchange (TSX) - the world's largest exchange for oil and gas companies, and a secondary listing on the main board of the London Stock Exchange (LSE).
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Tethys Petroleum Limited is an oil and gas exploration and production company currently focused on Central Asia with projects in Kazakhstan, Tajikistan and Uzbekistan. It is the only independent oil and gas company operating in all three Republics.
Tethys Petroleum is a public company with its primary listing on the main board of the Toronto Stock Exchange ("TSX") - the world's largest exchange for oil and gas companies - and with a secondary listing on the Kazakhstan Stock Exchange ("KASE") in Almaty.
* Oil exploration discovery in Kazakhstan tested at 6,800 barrels of oil per day
* Active appraisal program in 2010 to evaluate oilfield size
* Further exciting exploration prospects near to oil discovery
* Existing gas production in Kazakhstan
* 35,000 sq. km of high potential exploration acreage in Tajikistan in world class basin
* Oil production in Uzbekistan
* Opportunities to acquire additional projects
- Significant Doris exploration oil discovery currently producing over 2,000 bopd from three wells
- Active oil and gas exploration and appraisal programme on Akkulka and Kul-Bas
- Substantial acreage position in underexplored North Ustyurt basin adjacent to the prolific Pre-Caspian basin
- Co-own the Aral Oil Terminal (“AOT”), an oil rail-loading terminal with a local partner to more efficiently transport Doris oil and increase oil production
- One of the first privately funded and operated dry gas developments in Kazakhstan
- A first non-state tie-in into major transcontinental gas export system
- Well trained local operations team
- Proven track record of greenfield developments in challenging and remote desert environment
Kazakhstan is an independent nation with a population of about 16 million. It is the 9th largest country in the world covering a vast area of land, sharing its longest borders with China and Russia, and also bordering the Caspian Sea. The country has a democratically elected President and legislature, impressive economic growth and a well-established oil and gas infrastructure and commercial and legal framework.
After Independence from the Soviet Union in 1991, Kazakhstan encouraged foreign direct investment ("FDI") in order to access the capital and expertise needed to develop and produce its large oil wealth. The state hydrocarbon company, KazMunaiGaz, has made significant investments in hydrocarbon fields as well as logistics and has strategic goals relating to improvement in national production, transport and co-operation with foreign hydrocarbon companies and investors. There are currently a large number of major hydrocarbon companies operating in Kazakhstan including: Gazprom, Chevron, Exxon Mobil, ENI, Total, BG Group, and CNPC as well as smaller companies. The country has a well-qualified oil and gas workforce with a high standard of education, which is positively encouraged by the government through training obligations under oil and gas contracts.
Kazakhstan has abundant hydrocarbon resources with some of the world’s most significant oil and gas fields, with 2012 production being some 1,728 Mbbl of oil and 19.7 Bcm of natural.
Tethys Petroleum's subsidiary companies in Kazakhstan have offices in Almaty (main office), Astana (government relations), Aktobe (operations office) and Bozoi (field office).
- Tethys acquired the first ever Production Sharing Contract in 2007
- In June 2013, Tethys completed its Farm-Out of the Bokhtar Production Sharing Contract with CNPC and Total
- The Bokhtar Operating Company (“BOC”) was created and is jointly owned and managed by the three partners
- Tethys has undertaken a comprehensive data acquisition program aimed to identify potential exploration targets; additional seismic to be shot
- Tethys Petroleum and BOC are committed to recruiting and training Tajik specialists and other local employees with the aim of them comprising approximately 90% of the work force
The Republic of Tajikistan is an independent country with a population of over 7 million people and rising, who are mostly concentrated in the capital city, Dushanbe. Tajikistan shares borders with Kyrgyzstan to the north, China to the east, Afghanistan to the south and Uzbekistan to the west.
There are two oil and gas basins in Tajikistan. In the north, the Fergana Basin has produced oil since 1900 and although the shallower potential is now limited, deeper potential still exists in this basin. In the south west of the country lies the Tajik-Afghan Basin, an extension of the prolific Amu Darya Basin. The Amu-Darya Basin has giant and supergiant fields in Turkmenistan and Uzbekistan and some of the largest fields in the world including the South Yolotan field in Turkmenistan, which is one of the five largest gas fields in the world. The Tajik portion of this basin offers similar geology and reservoirs making it a prized prospect for development. Lack of investment in post-Soviet times has precluded any active exploration programs to date within Tajikistan and the need for energy independence is a top priority in Tajikistan, with currently over 90% of oil and gas being imported from neighboring countries within Central Asia. Tethys Petroleum is the first independent oil and gas exploration and production company to work within the Tajik portion of these basins.
Tethys’ initial strategy was to develop shallow oil and gas potential for early cash flow whilst simultaneously acquiring seismic and other data and building a geological model with the intention of farming out the higher risk more expensive exploration targets.
The Company's office in Tajikistan is located in Dushanbe.
Georgia is an independent republic with a population of approximately 4.5 million in the Caucasus region of Eurasia. It is located at the strategically important crossroads of Western Asia and Eastern Europe, bounded to the west by the Black Sea, Russia to the north, Turkey and Armenia to the south and Azerbaijan to the south-east.
In July 2013, Tethys announced the conditional acquisition of interests in a number of Production Sharing Contracts in Georgia, which was successfully completed in January 2014. Through its subsidiary companies, Tethys acquired 56% in PSC's covering Blocks XIA, XIM and XIN in eastern Georgia, close to the capital city Tbilisi.
The PSC’s cover high potential acreage with both conventional and unconventional plays – total unrisked mean prospective resources of 3,216 MMbbl boe and a seismic program has been underway since September 2013.
Tethys management has extensive in-country experience and Georgia supports a good working environment. Being located west of the Black Sea and with well-developed infrastructure and major operational oil and gas pipelines, Tethys can easily secure export routes and achieve world prices for future production.
BOARD OF DIRECTORS
John Bell , Executive Chairman
Julian Hammond , Chief Executive Officer and Chief Commercial Officer
Denise Lay , Chief Financial Officer & Finance Director
David Botting , Non-Executive Director
David Henderson , Non-Executive Director
James Rawls , Non-Executive Director
Marcus Rhodes , Non-Executive Director
David Roberts , Non-Executive Director
PRINCIPAL EXECUTIVE OFFICE
Tethys Petroleum Limited
P.O Box 524, St. Peter Port
Guernsey, GY1 6EL, British Isles
Phone: +44 1481 725 911
Fax: +44 1481 725 922
89 Nexus Way, Camana Bay,
Grand Cayman, KY1-9007
27th Floor, TD Canada Trust Tower
161 Bay Street, Toronto
Ontario, Canada M5J 2S1
Phone: +1 416 572 2065
Fax: +1 416 572 2201
PRINCIPAL KAZAKHSTAN OFFICE
Tethys Services Kazakhstan LLP
B.C. "Old Square"
98 Panfilov Street, Offices 707-710
050000 Almaty, Kazakhstan
Phone: +7 727 244 6923/4/5
Fax: +7 727 244 6926
PRINCIPAL TAJIKISTAN OFFICE
Tethys Tajikistan Limited Representative Office
37.1 Bokhtar Street
Trade and Business Center "VEFA", Suite 804
Dushanbe 734002, Tajikistan
Phone: +992 48 701 1717
Fax: +992 48 701 1718
UNITED KINGDOM OFFICE
Tethys Services Limited
11-13 Lower Grosvenor Place,
London, SW1W 0EX, United Kingdom
Phone: +44 207 821 6128
Fax: +44 207 821 0612
PRINCIPAL USA OFFICE
Tethys Petroleum Inc
306 Dartmouth Street,
Boston MA 02116, USA
Phone: +1 617 716 0333
Fax: +1 617 716 0258
PRINCIPAL UZBEKISTAN OFFICE
Tethys Uzbekistan BV
Inkonel Business Center
75 Mustakillik Avenue
Tashkent 100000, Uzbekistan
Phone: +998 71 237 5485
Fax: +998 71 237 5486
No info available.