Tethys Petroleum Ltd. (TSX: TPL) released an update on its oil production work taking place at the North Urtabulak field in Uzbekistan and the Beshtentak field in Tajikistan.
In Uzbekistan, the company has now tested and put the newly drilled NUR116 well on production. The well had a test rate of about 610 barrels of oil per day (bopd) after acidisation. The well was drilled to a depth of 2,484 meters into the Jurassic reef carbonate reservoir.
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In Tajikistan, the company signed an oil sales contract for the purchase and sale of its oil from its Beshtentak oilfield in the Baljuvon region. The field is a light oil field which was developed in the past, yet is believed to contain additional oil, which could be extracted by using more modern technologies. A workover was done at well BST20 recently and it is now producing about 50 bopd using a simple unmodified beam pump.
Tethys is focused on oil and gas exploration and production activities in Central Asia with activities currently in the Republics of Kazakhstan, Tajikistan and Uzbekistan. This highly prolific oil and gas area is rapidly developing and Tethys believes that significant potential exists in both exploration and in discovered deposits.
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