Tethys sees enormous potential in Tajikistan, Uzbekistan and Kazakhstan

Tue. October 27, 2009; Posted: 04:37 AM

TASHKENT, Oct 26, 2009 (Asia Pulse Data Source via COMTEX) -- TETHF | Quote | Chart | News | PowerRating -- Guernsey headquartered Tethys Petroleum's Chief Executive David Robson praised the "enormous potential" of oil and gas exploitation in Central Asian countries and reminded that Tethys had a significant footing in the region, being the most active oil and gas exploration and production company in Tajikistan with other assets in Kazakhstan and Uzbekistan.

"Central Asia has numerous sedimentary basins with both existing production and the potential for significant additional discoveries of major oil and natural gas deposits. Tajikistan and Uzbekistan are historically under explored energy-rich countries that have enormous potential for both oil and gas," Robson said during his speech at an annual oil and gas event at Millennium Beijing in China.

He pointed out the proximity of these countries to "energy hungry" economies such as China and East Asian states, which he said represented "a promising future" for oil and gas companies such as Tethys.

"We see the tremendous long term potential for growth in Kazakhstan, Tajikistan and Uzbekistan within Tethys acreage and also attributed to the strategic positioning of transcontinental export routes. Central Asia is striving to become one of the major energy supply centres in the near future," asserted Robson.

The company has a mean unrisked resource of 690 million boe (barrels of oil equivalent) in Kazakhstan and an unrisked resource in excess of 1.13 billion boe in Tajikistan. Tethys' production in Uzbekistan amounts to 2,000 bopd (barrels of oil per day).

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