These amendments, which had been previously agreed with MOG, grant an extension to the exploration period for the company by a further two years until 11 November 2013.
The Kul-Bas contract area, which currently covers about 1.9 million acres, surrounds the Akkulka contract area where the company has recently made the AKD01 ‘Doris’ oil discovery and where work is currently underway to appraise this oil discovery and explore the surrounding area.
The original contract terms involved a six-year exploration period with relinquishments (after which all areas outside commercial discovery areas will be relinquished) and a 19-year production period, which could be extended.
Tethys is focused on oil and gas exploration and production activities in Central Asia with activities currently in Tajikistan, Kazakhstan and Uzbekistan.
