Tethys Petroleum Ltd. completed the purchase of 34% of the shares in Seven Stars Energy Corp. from its Tajik joint venture partner Sangam Ltd., increasing its shareholding to 85% (from 51%) in the Bokhtar Production Sharing Contract (PSC) in Tajikistan.
Tethys noted the PSC has 1.14 billion barrels of oil equivalent (7.0 trillion cubic feet) of audited unrisked prospective resources within the contract area. The term of the PSC is 25 years.
The company now has 35,000 sq km (8.7 million acres) in the underexplored Afghan?Tajik Basin with world-class discovered fields nearby.
Ongoing data acquisition is in final stages with the ultimate goal to drill the first deep pre-salt exploration well in the near future.
Dr. David Robson, chief executive officer, Tethys, said, “I consider the Afghan?Tajik Basin and its extension the Amu?Darya Basin to be one of the most prolific in the world with giant and supergiant gas and condensate fields such as those in neighboring Uzbekistan and in Turkmenistan.”
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