Partners agree Tajikistan energy deal
Source: Bloomberg News |
December 22, 2012, Saturday
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Print Edition
Print Edition
CHINA National Petroleum Corp and Total SA have agreed to join Tethys Petroleum Ltd to search for oil and gas in Tajikistan.
China National Oil and Gas Exploration and Development Corp, a unit of CNPC, and Total will each hold a third of the Bokhtar project, Tethys said yesterday in a statement. The partners will pay US$60 million to Tethys, an explorer focusing on Central Asia, to refund about two-thirds of historical costs and will carry some of its future spending.
"The initial work program is expected to comprise further seismic data acquisition followed by a deep exploration well," Tethys said. The completion is subject to final Tajik government approval.
The Bokhtar field may hold around 27.5 billion barrels of oil equivalent resources, Tethys said in an earlier report.
China National Oil and Gas Exploration and Development Corp, a unit of CNPC, and Total will each hold a third of the Bokhtar project, Tethys said yesterday in a statement. The partners will pay US$60 million to Tethys, an explorer focusing on Central Asia, to refund about two-thirds of historical costs and will carry some of its future spending.
"The initial work program is expected to comprise further seismic data acquisition followed by a deep exploration well," Tethys said. The completion is subject to final Tajik government approval.
The Bokhtar field may hold around 27.5 billion barrels of oil equivalent resources, Tethys said in an earlier report.
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