BOZOI, KAZAKHSTAN, Mar 05, 2009 (MARKET WIRE via COMTEX) — Tethys Petroleum Limited (“Tethys” or the “Company”)(TSX: TPL) today announced that gas production from its Kyzyloi gas field in Kazakhstan has recommenced.
Gas production recommenced at 14:00 Bozoi time today with gas flowing through the Kyzyloi Booster Compressor Station (“BCS”) into the Bukhara-Urals gas trunkline system at km910. Gas production from the Kyzyloi Field had been temporarily suspended while works were undertaken at the BCS in order to add additional compressors and other equipment primarily in connection with bringing on production Phase 2 of the gas development which will involve gas production from several wells in the Akkulka block surrounding Kyzyloi. Upgraded gas measurement equipment and equipment for continuous chromatographic analysis has also been installed at the BCS in order to meet new Kazakh requirements for the gas trunkline.
The Kyzyloi Field is now producing from eight wells, which includes the recently commissioned G12 and G16 wells, and the current gas production rate is 662,000 cubic metres (23.4 million cubic feet) per day, but is expected to stabilise at approximately 566,000 cubic metres (20 million cubic feet) per day over the next week.
The main activities at the BCS for Phase 2 has involved the installation of two further compressor units (making five in total). Despite extreme winter weather conditions the major parts of this work are now completed and as such the Kyzyloi production is now able to come back on stream. Work continues on the final installation and commissioning of Phase 2 and it is expected that this work will be complete by the end of this month following which a governmental commission would certify Phase 2 to commence gas production.
Tethys is focused on oil and gas exploration and production activities in Central Asia with activities currently in the Republics of Kazakhstan and Tajikistan. This highly prolific oil and gas area is rapidly developing and Tethys believes that significant potential exists in both exploration and in discovered deposits.
This press release contains “forward-looking information” which may include, but is not limited to, statements with respect to our operations. Such forward looking statements reflect our current views with respect to future events and are subject to certain risks, uncertainties and assumptions. See our Annual Information Form for the year ended December 31, 2007 for a description of risks and uncertainties relevant to our business, including our exploration activities.
Ardak Akanov, Managing Director
Office phone/fax: +7 701 272 8867
SOURCE: Tethys Petroleum Limited