Tethys Petroleum Signs Farm Out Agreement for Tajik PSC
Tethys Petroleum Limited, through its subsidiary Kulob Petroleum Limited, which is the contractor party to the Bokhtar Production Sharing Contract in Tajikistan, has signed a Memorandum of Understanding (MOU) to execute a farmout agreement on the PSC with a global energy firm.
The 25-year Bokhtar PSC was signed in 2008 and covers a total area of approximately 35,000 sq. km in the Afghan Tajik portion of the prolific Amu Darya basin west of the Pamir mountains. The area included in the PSC is in the south-western part of Tajikistan and is a large, highly prospective region which has existing oil and gas discoveries but which has seen limited exploration to date. An independent report estimates Gross unrisked mean recoverable resources of 27.5 billion barrels of oil equivalent, consisting of 114 trillion cubic feet (3.22 trillion cubic metres) of gas and 8.5 billion barrels of oil.
Tethys is focused on oil and gas exploration and production activities in Central Asia with activities currently in the Republics of Kazakhstan, Tajikistan and Uzbekistan.