Total, CNODC farm-in to Tethys Tajikistan field
PARIS -- Tethys Petroleum, the oil and gas exploration and production company focused on Central Asia, announced that its subsidiary, Kulob Petroleum Limited, has signed a farm-out agreement for the Bokhtar production sharing contract in Tajikistan and the China National Oil and Gas Exploration and Development Corporation (CNODC).
An independent resource report of the Bokhtar PSC estimates gross unrisked mean recoverable prospective resources of 27.5 Bboe, consisting of 114 Tcf of gas and 8.5 Bbbl of oil.
Tajikistan currently imports over 90% of its oil and gas and the government is prioritising the development of domestic resources. The vast majority of these petroleum deposits are located in the northern and southwestern part of the country, the area where Tajikistan borders with Uzbekistan and Afghanistan. The southwestern part of the country is the Afghan-Tajik extension of the hydrocarbon-rich Amu-Darya basin, home to some of the world's largest gas and gas condensate fields in neighboring Uzbekistan and Turkmenistan. These same reservoirs, that are prolific producers in the adjacent countries, have never been drilled in Tajikistan to date.
With these resources developed, the country would become self-sufficient and potentially evolve into a significant hydrocarbon exporter, transporting its oil and gas to several possible markets, including neighboring China. In the last few years, China has constructed large oil and gas pipelines transporting these resources from Central Asia overland to China with further pipelines under construction to support their growing energy demands.