Tethys Petroleum Awarded Two-Year Extension on Kul Bas Contract in Kazakhstan

Tethys Petroleum on Tuesday announced it has been granted a two-year extension to the Kul-Bas exploration and production contract in Kazakhstan.

The Kul-Bas contract area, which currently covers an area of 7,632 km2, surrounds the Akkulka contract area which contains the company's producing oil and gas fields.

Tethys believes this extension will give the company further time to explore and appraise “this attractive” area which has several prospects and leads and with a proved commercial oil and gas system in the Akkulka block.

Within this contract area is the Klymene exploration prospect.

Tethys is focused on oil and gas exploration and production activities in Central Asia and the Caspian Region.