Tethys reports first oil sales through Kazakh Oil Terminal
Tethys Petroleum has completed the first shipment of commercial oil production through its Aral Oil Terminal (the “AOT”) at Shalkar ‐ a purpose built oil
Tethys Petroleum has completed the first shipment of commercial oil production through its Aral Oil Terminal (the “AOT”) at Shalkar ‐ a purpose built oil storage and rail loading facility to connect the Company’s Doris oilfield to the Kazakh rail system.
Highlights AOT key points: • Enable an initial doubling of production to approximately 4,000 bopd • Increase efficiency, reduce transportation costs, resulting in a higher realised oil price • Phase 2 to provide additional capacity to further increase production to 5,000‐6,000 bopd in H2 2012
AOT is owned and operated jointly through a 50:50 joint venture by Tethys and its Kazakh oil trading partner’s company, Olisol Investment Ltd. It is located approximately 230kms from the Doris oil field, significantly reducing the distance oil is currently trucked by road from the field. The opening of AOT will allow the Company to initially double production to approximately 4,000 bopd due to a halving of the road trucking distance.