Tethys Petroleum has signed a memorandum of understanding (MOU) with Uzbekneftegaz, the Uzbek State, oil and gas companies.
This agreement is designed to provide the framework for a joint study and the process of negotiations for an agreement in connection with certain exploration exploration in the North of Ustyurt basin Uzbekistan blocked.
"This agreement is an excellent step forward with our partners Uzbekneftegaz potentially on the research of North Ustyurt basin in Uzbekistan - a basin where we success, had already good exploration, work together", said Dr. David Robson, Chief Executive Officer of the Tethys Ocean.
"We believe that our comprehensive modeling of Doris oil discovery and the surrounding area, if the Uzbek part of the basin has applied our view very similar geological features and excellent oil and Prospectivity can be very useful."
Tethys focuses activities in Central Asia with activities on oil and gas exploration and production currently in the republics of Tajikistan, Kazakhstan and Uzbekistan.
This very prolific oil and gas field is developing rapidly and Tethys believes that there is considerable potential in both exploration and discovered deposits.
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