Tethys Petroleum Flows Gas From Second Kazakh Well

Tethys Petroleum has announced gas flow from AKK18, second exploration well of its 2014 programme in Kazakhstan.

“Analysis of data from the well indicates it, like the recently drilled AKK17 well, is similar to the AKK15 well which tested gas at a stable rate of approximately 7 million cubic feet (195,000 cubic metres or 1,167 barrels oil equivalent) per day, and the AKK18 is anticipated to test at a comparable rate,” the company said Thursday.

According to Tethys, the current shallow gas programme includes the drilling of up to 10 new exploration wells, based on the latest seismic data, as well as workovers and tie-ins, and is targeting a threefold increase in gas production by the beginning of 2015.

"We now have two successes from the first two wells in this year's shallow gas programme and have confidence that our geological model will bring further successes through this drilling programme. The anticipated sale of gas into the Chinese market in 2015 at higher prices will bring a step change to the Company, significantly increasing revenues through low cost, shallow wells in a development that has low operating costs and an efficient distribution system," David Robson, Chairman and President of Tethys commented.

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