Tethys Petroleum Limited’s wholly-owned Kazakh subsidiary, TethysAralGaz LLP, has received permission from the Ministry of Energy of the Republic of Kazakhstan to extend the Kyzyloi Gas Production Contract for another 15 years, from June 14, 2014 to December 31, 2029.

The Ministry of Energy has granted this contract extension following the Kazakh State Reserves Committee's (GKZ) approval of the new State Reserves for Kyzyloi previously announced in May 2014. The Kyzyloi contract area has been increased by 56 percent to 449 km2 (110, 950 acres) and now encompasses a larger gas bearing area including the AKK05 well (to be worked over later in Q1 2015) and also the AKK08 & AKK10 successful gas wells.

Tags: Tethys Petroleum Limited