Tethys Petroleum Limited is an oil and gas exploration and production company 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 listing on the main board of the Toronto Stock Exchange (TSX) - the world's largest exchange for oil and gas companies.
Four contracts: Kyzyloi Production Contract and Akkulka Production Contract (gas contracts), Akkulka Exploration Contract (includes Doris oil field and others) and Kul-bas E&P Contract
Existing gas production with plans to increase by drilling new wells and tying in existing ones
First oil discovery in the whole area in 2010 - “Doris” produced to date in excess of 4 MM bbls
Exploration upside potential from Klymene prospect in the Kul-Bas area
Approximately 36,000 sq. km of high potential exploration acreage in world class basin
25-year Production Sharing Contract
In June, 2013, Tethys completed a farm-out agreement with subsidiaries of Total and China National Petroleum Corporation ("CNPC") for its Bokhtar Production Sharing Contract
Targeting deep sub salt structures
Established the “Bokhtar Operating Company” which is jointly owned and managed by the three partners
Further geophysical data will be acquired in 2015 with the intention of spudding a well in 2016
Proven oil production in shallower horizons
This asset is currently at risk of forfeiture from arbitration claims against Tethys subsidiary by Total and CNPC.
Completed strategic farm-in in January 2014
Farm in as non-Operator to 49% of Block XIa, XIm and XIn in eastern Georgia located near the capital Tbilisi
Geophysical program underway since September 2013 including gravity and seismic acquisition.
High potential acreage with both conventional and unconventional plays
Acreage is within the highly prolific Kura Basin and is on trend with major oil fields
Tethys has sought approval for amended work programmes for Block XIm and XIn and intends to reliquish Block XIa.
Tethys Petroleum derives its name from the Tethys Ocean, which covered Central Asia and surrounding areas some 250 million years ago. Many of the rocks, which were deposited in this ocean, now contain some of the world's largest oil and gas fields in Central Asia – Tethys Petroleum's focus area. Once the Tethys Ocean closed, it created the mountain chains of the Himalayas to the Alps. Today the only parts remaining of the Tethys Ocean are the Mediterranean Sea, the Black Sea and the Caspian Sea. The Tethys Ocean was named after the mythical Greek goddess Tethys, a Titaness and sea goddess who had 3,000 children, being mother of the chief rivers of the world. Tethys is also a moon of the planet Saturn.