Tethys Petroleum reports Uzbekistan exploration MOU

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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Total awarded two exploration licenses in Mauritania

Total has signed two exploration licenses with the Mauritanian government that gives it, as operator, a 90% interest in the following blocks:

Block C 9 in ultra deep offshoreBlock Ta 29 onshore in the Taoudeni basin.

The National oil company SMH will hold the remaining 10%.

"With this ultra deep offshore award, we are entering into a high-potential, frontier play, known as the abrupt margin, in which major discoveries have been made recently, like in French Guyana" said Marc Blaizot, Total's Senior Vice President, Exploration.

"The license award is aligned with Total’s strategy of expanding its exploration operations into high-potential geological plays while leveraging the Group’s globally recognized ultra-deepwater expertise. The new onshore block is on the same trend as onshore Block Ta 7 on which latest exploration results show good prospectivity in this part of the Taoudeni basin."

The block C 9 is located approximately 140 kilometers offshore Western Mauritania, covering an area of more than 10,000 km?, in water depths ranging from 2,500 to 3,000 metres.

The Block Ta 29 is located in the Saharan desert, 1,000 kilometers east from Nouakchott and north of the Block Ta 7 in which Total is already conducting exploration activities.

For both blocks, a seismic acquisition campaign is planned as the first phase of the exploration program.

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BP awarded exploration blocks in Indonesia

BP received two oil and gas product sharing contracts (PSCs) from the Government of Indonesia.

The company received 100 percent interests in the offshore West of Aru I and II PSCs in the Arafura Sea, Indonesia.

The West of Aru are I and II PSCs is approximately 500 kilometers southwest of the BP-operated North Arafura PSC and 200 km west of the Aru islands of the Moluccas in Indonesia.

The West of Aru I comprises an area of about 8,100 km2 PSC and the West of Aru II PSC covers an area of approximately 8,300 km2.

The two blocks have water depths between 200 metres and 2,500 metres. BP expects that begin in the near future seismic activity in these blocks.

"In the last two years BP's position in Indonesia by access to four Coalbed Methane PSCs in Kalimantan and three conventional gas blocks in Papua, deepened", said William Lin, BP President Asia Pacific regional.

"These two new blocks are strong complements this portfolio and benefit from expertise in BP Exploration in the deep sea." "We appreciate the continued support and confidence of the Government of Indonesia."

Including the award of these blocks BP access blocks in 11 countries around the world on 69 new license since October 2010, including Kalimantan Coalbed Methane and North Arafura blocks in Indonesia won. The company plans to double worldwide spend his exploration in the next few years.

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