LOS ANGELES, Nov. 5 -- Tethys Petroleum Ltd., Toronto, expects to invest an initial $8 million in Tajikistan, according to company Pres. David Robson, who said the firm would begin work in Beshtentyak, Pushion, and Khoja Sartez oil and gas fields by yearend.
"Currently, we have licenses to develop these fields," Robson said. "The agreement signed between Tethys and the Southern Oil & Gas Exploration State Unitary Enterprise (SOG) was fully supported by the Tajik ministry of energy and industry."
He said Tethys Tajikistan Ltd., Dushanbe, would begin work on the fields within the next 2 months.
In September, Tajikistan reported that Tethys would begin rehabilitation and further exploration of Beshtentyak oil and gas field in southern Tajikistan (OGJ Online, Sept. 21, 2007).
At the time, Tethys said its subsidiary had signed an investment and operating agreement with SOG relating to fields in southern Tajikistan, including Beshtentyak, Uznohor, and South Pushion oil fields and Khoja Sartez gas-condensate field.
The agreement allows Tethys to commence initial production operations in the Kulob area, including perforating and reperforating wells, sidetracking and working over some wells, upgrading facilities, wellbore treatment, and other work.
Tethys plans further exploration in the Kulob area.
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