Tethys signs exploration MoU in Uzbekistan

Feb 02, 2012 12:00 AM

Tethys Petroleum has signed a Memorandum of Understanding (MoU) with the Uzbekistan state oil and gas company Uzbekneftegaz.
The MoU will provide a framework for a joint study and the negotiation process for an exploration deal relating to certain exploration blocks in Uzbekistan's North Ustyurt basin.

Tethys CEO David Robson said the MoU is an excellent step forward with Uzbekneftegaz to potentially work together on exploring the North Ustyurt basin in Uzbekistan.
"We believe that our extensive modelling of the Doris oil discovery and surrounding area can be very useful if applied to the Uzbekistan portion of the basin which we believe has very similar geological characteristics and excellent oil and gas prospectivity," Robson said.

Tethys is focused on oil and gas exploration and production activities in Central Asia, with activities currently in Kazakhstan, Tajikistan and Uzbekistan.

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