Tethys Petroleum Press Release: Corporate Update
Tethys Petroleum (TSXV: TPL) has received a important gas flaring permit for its Kazakhstan operations. The company now awaits the final Ecology permit, expected by November 18, 2024, which will enable oil production from wells KBD #2, KBD #6, and KBD #7. Tethys is also working with the Ministry of Energy to secure a Production Contract that would extend the Kul Bas oil field's production period until July 2048 and grant oil export rights.
Tethys Petroleum (TSXV: TPL) ha ricevuto un importante permesso per l'incenerimento di gas per le sue operazioni in Kazakistan. L'azienda attende ora il permesso finale di Ecologia, previsto per il 18 novembre 2024, che permetterà la produzione di petrolio dai pozzi KBD #2, KBD #6 e KBD #7. Tethys sta anche collaborando con il Ministero dell'Energia per ottenere un Contratto di Produzione che estenderebbe il periodo di produzione del giacimento di petrolio di Kul Bas fino a luglio 2048 e concederebbe diritti di esportazione del petrolio.
Tethys Petroleum (TSXV: TPL) ha recibido un importante permiso para la quema de gas para sus operaciones en Kazajistán. La empresa ahora espera el permiso final de Ecología, que se espera para el 18 de noviembre de 2024, lo que permitirá la producción de petróleo de los pozos KBD #2, KBD #6 y KBD #7. Tethys también está trabajando con el Ministerio de Energía para asegurar un Contrato de Producción que extendería el período de producción del campo de petróleo Kul Bas hasta julio de 2048 y otorgaría derechos de exportación de petróleo.
Tethys Petroleum (TSXV: TPL)는 카자흐스탄에서의 운영을 위한 중요한 가스 플레어 허가를 받았습니다. 이 회사는 이제 2024년 11월 18일로 예정된 최종 환경 허가를 기다리고 있으며, 이는 KBD #2, KBD #6, KBD #7 우물에서 석유 생산을 가능하게 할 것입니다. Tethys는 또한 에너지 부처와 협력하여 Kul Bas 석유 필드의 생산 기간을 2048년 7월까지 연장하고 석유 수출 권리를 부여하는 생산 계약을 확보하기 위해 노력하고 있습니다.
Tethys Petroleum (TSXV: TPL) a reçu un important permis de torchage de gaz pour ses opérations au Kazakhstan. L'entreprise attend maintenant le permis final d'écologie, prévu pour le 18 novembre 2024, qui permettra la production de pétrole des puits KBD #2, KBD #6 et KBD #7. Tethys travaille également avec le ministère de l'Énergie pour sécuriser un contrat de production qui prolongerait la période de production du champ pétrolier de Kul Bas jusqu'en juillet 2048 et accorderait des droits d'exportation de pétrole.
Tethys Petroleum (TSXV: TPL) hat eine wichtige Genehmigung für die Gasverbrennung für seine Tätigkeiten in Kasachstan erhalten. Das Unternehmen wartet nun auf die endgültige Ökologiegenehmigung, die bis zum 18. November 2024 erwartet wird und die Ölproduktion aus den Bohrlöchern KBD #2, KBD #6 und KBD #7 ermöglichen wird. Tethys arbeitet auch mit dem Ministerium für Energie zusammen, um einen Produktionsvertrag zu sichern, der die Produktionsperiode des Kul Bas-Ölfelds bis Juli 2048 verlängern und Ölexportrechte gewähren würde.
- Obtained critical gas flaring permit for Kazakhstan operations
- Potential production from three wells (KBD #2, #6, and #7) pending final permit
- Possible extension of Kul Bas oil field production rights until 2048
- Operations delayed pending additional regulatory approvals
- Export capabilities still contingent on Production Contract approval
Grand Cayman, Cayman Islands--(Newsfile Corp. - November 1, 2024) - Tethys Petroleum Limited (TSXV: TPL) ("Tethys" or the "Company") is pleased to announce that it has today received the necessary gas flaring permit, a critical milestone in advancing its oil production operations in Kazakhstan.
Regulatory Update
With this long-anticipated approval in hand, Tethys now moves to the final regulatory step: obtaining the Ecology permit. The Company is hopeful about receiving this permit by November 18, 2024, which will enable the start of its oil production from wells KBD #2, KBD #6, and KBD #7.
The Company will continue to actively engage with the Ministry of Energy to expedite the signing of the Production Contract, which will extend the Kul Bas oil field's production period until July 2048 and allow the Company to export oil. With the gas flaring permit now in place, the Company hopes that, after this extended waiting period, the remaining steps, including the approval of the Production Contract application, will proceed in a timely manner.
About Tethys
Tethys is focused on oil and gas exploration and production activities in Central Asia and the Caspian Region.
Disclaimer
Some of the statements in this document are forward-looking. No part of this announcement constitutes, or shall be taken to constitute, an invitation or inducement to invest in the Company or any other entity and shareholders of the Company are cautioned not to place undue reliance on the forward-looking statements. Save as required by applicable law, the Company does not undertake to update or change any forward-looking statements to reflect events occurring after the date of this announcement.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contact Information:
Tethys Petroleum
Casey McCandless
Chief Financial Officer
901-763-4001
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/228662
FAQ
When did Tethys Petroleum (TSXV: TPL) receive its gas flaring permit in Kazakhstan?
Which wells will Tethys Petroleum (TSXV: TPL) begin production from in Kazakhstan?
When is Tethys Petroleum (TSXV: TPL) expected to receive its Ecology permit?
Until what year could the Kul Bas oil field production period be extended?
