Sunday, April 20, 2014


Uzbekistan

Tethys Petroleum Pulls Out Of Uzbekistan

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British-Canadian Tethys Petroleum Limited has announced it is leaving Uzbekistan and will focus its attention in Central Asia on projects in Kazakhstan and Tajikistan.

The company said in a press release late on January 2 that it would "complete the process of exiting" from the project at Uzbekistan's North Urtabulak field within three months.

Tethys said it was leaving Uzbekistan "due to recent changes in the business climate and political environment." It did not elaborate.

At the same time, Tethys announced it had received "consent" from Georgia's government to acquire 56-percent stakes in three blocks in eastern Georgia.

The president of Tethys, David Robson, called the Georgian fields "world-class assets" with significant potential for conventional and nonconventional oil and gas production.

Based on reporting by Trend.az and RFE/RL

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