News 2011
#1 (67) February 2011Tethys Petroleum
TethysAralGas LLP (ТАG), registered on the Cayman Islands and being a 100 % subsidiary of Tethys Petroleum Limited, obtained an approval from the Kazakhstan's Ministry of Oil and Gas to implement the project for the pilot development of the Doris site of the Akkulka field in the Aktyubinsk region.
The message of Tethys Petroleum informed about it. This permit gives the company the right to produce oil from Akkulka during the exploration period by increasing capacities up to 3000-4000 barrels a day since the second quarter of 2011. At present, ТАG has an opportunity to produce 750 barrels of oil a day within the field's pilot development.
The permit of the Ministry of Oil and Gas for the pilot operation of the Doris site was given after in October 2010 the State Commission on Reserves of the Committee of Geology and Subsoil Use of the Ministry of Industry and New Technologies of the RK has approved the oil reserves of the Akkulka field by taking them to the state balance by category C1 and C2.
Under information of Tethys Petroleum, upon completion of the pilot operation program, the company will submit a final assessment of hydrocarbon reserves to the Ministry of Oil and Gas with the aim to obtain the contract for production which, in turn, will provide the field's full-scale development and sale of produced raw materials on the domestic and foreign markets.