The amendments to the production sharing contracts (PSCs) have been declared effective, which will be registered with the appropriate state bodies, according to the company.
In addition, the company will not complete the previously announced acquisition of blocks VIII and XIG (project Tamar) at this time, as the firm does not believe that all of the conditions relating to the acquisition will be fulfilled.
Tethys also said that it will exit from Uzbekistan, due to recent changes in the business climate and political environment in the country.
Tethys Petroleum executive chairman and president David Robson said the company has received final governmental consent for the acquisition of interest in world class assets.
"This transaction significantly strengthens Tethys’ diversified portfolio adding an unconventional oil play to our production and exploration assets in Kazakhstan, and our exciting new frontier exploration acreage in Tajikistan," Robson added.
