Kazakh Firm Doubles Price of Gas
Tethys Petroleum has effectively doubled the net price of gas which it is selling in Kazakhstan.
New gas price after marketing and distribution costs €47.62 ($65) per 1,000 cubic metres, up from $32 including VAT, the company said in a statement.
The gas concerned comes from the Kyzyloi and Akkulka Fields. Current total production is reported at 430,000 cubic metres (15.2 million cubic feet or 2,530 barrels oil equivalent) per day.
Further production increases achievable through the tie-in of other already drilled wells, and targeting shallow gas prospective resources.
- Net Proved + Probable gas reserves from the fields are 2.1 billion cubic metres (bcm) or 73.8 billion cubic feet (bcf) (Gustavson & Associates, December 31, 2011)
- Net mean unrisked prospective gas resources of 18 billion cubic metres (bcm) 634 billion cubic feet (bcf) (Gustavson & Associates, April 30, 2012)
- New Kazakhstan-China gas trunkline under construction (passes through Tethys' contract areas) should provide further upside upon completion in addition to the existing pipeline through which Tethys currently sells its gas.