Tethys to explore Bishtinchak field in Tajikistan

Tajikistan reported that Tethys Petroleum Ltd. would begin prospecting in Bishtinchak oil and gas field in southern Tajikistan on Sept. 20.

Sept. 21, 2007

Eric Watkins
Senior Correspondent

LOS ANGELES, Sept. 21 -- Tajikistan reported that Tethys Petroleum Ltd. would begin prospecting in Bishtinchak oil and gas field in southern Tajikistan on Sept. 20.

The Tajik Energy and Industry Ministry said an agreement was signed Sept. 6 between Tethys and Tajikstan's state enterprise for exploration and production of oil and natural gas in Bishtinchak field.

In a separate statement, Tethys said it received rights for rehabilitation and further exploration at Beshtentyak, Uznohor, and South Pushion oil fields and the Khoja Sartez gas-condensate deposit.

Production from the fields, currently 100 b/d, will go to Tajikistan, but additional incremental production will be split between the state and Tethys.

The firm will receive 75% of the additional production until it covers its investment costs and then 70% thereafter.

Contact Eric Watkins at [email protected].