Tethys Petroleum to invest US$24.4m to Chegara project

The project was included to the investment programme for 2013 and it envisages to increase oil production at the field, EnergoNews reported.

Tethys Petroleum and Uzbekneftegaz signed a contract on increasing oil production at Chegara field in May 2012. Within the project, it is planned to carry out a programme of drilling, including with use of horizontal approach. According to the Uzbek side, the project will allow to produce 390 tonnes of oil a day.

Tethys Petroleum is also implementing a project on increasing liquid hydrocarbon production at Northern Urtabulak in Kashkadarya region.

In 2010-2011, the company carried out horizontal drilling at the field to increase mining volume. At the moment, the company produces 1,500 barrels of oil a day.

In February 2010, Uzbekneftegaz and Tethys Petroleum signed a memorandum of cooperation, which envisages increasing oil production in existing projects and exploring perspective fields.