Tethys Granted Presidential Approval For Uzbek Oil Fields PEC


News: Guernsey-based Tethys Petroleum has received final presidential approval for its production enhancement contract (PEC) at the Chegara oilfields in Uzbekistan, reports Scandinavian Oil-Gas Magazine. The presidential decree grants Tethys subsidiary Chegara Production , along with local joint venture partners Uzneftegazdobycha and Uznefteproduct, the right to develop fields in the oil and gas-rich Bukhara-Khiva region of the Central Asian nation. The PEC will now be registered with the appropriate state bodies, a process expected to take two months, meaning that the group will be able to begin work from December 2013.

This article is tagged to:
Sector: Oil & Gas
Geography: Uzbekistan

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