CASPIAN-focused Tethys Petroleum has agreed with the Uzbek state-firm National Holding Company Uzbekneftegaz (UNG).
The agreement will provide the framework for a joint study and the negotiation process for an exploration agreement relating to certain exploration blocks in the North Ustyurt Basin of Uzbekistan.
“This MOU is an excellent step forward with our partners Uzbekneftegaz to potentially work together on exploring the North Ustyurt basin in Uzbekistan – a basin in which we have already had,” said Dr. David Robson, chief executive of Tethys.
“We believe that our extensive modeling of the Doris oil discovery and surrounding area can be very useful if applied to the Uzbek portion of the basin which we believe has very similar geological characteristics and excellent oil and gas prospectivity,” he said.
Tethys is focused on oil and gas exploration and production activities in Central Asia with activities currently in the Kazakhstan, Tajikistan and Uzbekistan.
Oil and Gas News | Caspian
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