Tethys Closes In on Uzbek Fields

摘要

Central Asian explorer Tethys Petroleum has signed a memoran- dum of understanding with Uzbekistan's Uzbekneftegaz with a view to obtaining two further pro- duction-enhancement contracts (PECs) in the country, some 14 months after the two firms agreed to study the idea (NC Sep.9'10). London- and Toronto-listed Tethys has until May 1, 2012 to negotiate contracts for the Chegara group of oil fields and the West Kruk oil field, both of which are in proximity to the North Urtabulak field that Tethys currently operates under a PEC. "The Chegara group of fields is less developed than North Urtabulak and Tethys believes that these fields give significant potential for additional oil pro- duction in the short term," the company said.