Proactive Investors - Run By Investors For Investors

Tethys Petroleum receives govt approval for Doris oil production project in Kazakhstan

Tethys Petroleum receives govt approval for Doris oil production project in Kazakhstan

Central Asia-focused Tethys Petroleum (TSX: TPL) announced Tuesday that it has received Kazakh State approval for its Doris oil pilot production project on the Akkulka field.

The approval gives the company the right to produce oil on the field during the exploration period, and allows Tethys to install and operate production facilities for the planned 3,000 to 4,000 barrel of oil per day target - planned for the second quarter of this year.

Currently, the company is producing at the site under a "test production" at a permitted level of 750 barrels of oil per day. Once this pilot program is complete, Tethys will apply for a production contract, allowing for full field development and foreign or domestic sales. This process is expected to begin by year-end.

At Doris, both the 3D and 2D seismic acquisition programs have been completed, with the next two appraisal wells to be drilled at the site in early February. Several new exploration targets have already been identified, Tethys said.

The company has hired an independent company to produce a new resource report at the Doris discovery, anticipated to be completed in the second quarter of this year.

Tethys also has oil and gas exploration and production activities in the Republics of Tajikistan, and Uzbekistan.

View full TPL profile View Profile

TETHYS PETROLEUM LIMITED Timeline

Newswire
September 19 2016
Newswire
September 05 2016

Related Articles

1532456979_Prairie_Provident_Resources_-_Rig_in_Wheat.png
July 24 2018
The company is focused in the Wheatland and Princess in Southern Alberta, where it is targeting the Lower Mannville formation
Oil barrels
January 11 2019
Over the last month of 2018, the firm has reported "highly encouraging" results from one of its legacy wells and clinched an agreement to pioneer the use of downhole perforation technology in Georgia
Jack-up rig
September 25 2018
Two wells are already in small scale production but the new one, now called TLP-103c, will go down to 2,700m at target depth
Copyright © Proactiveinvestors.com, 2019. All Rights Reserved - Proactive Investors North America Inc., Proactive Investors LLC

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use