Central Asia-focused junior oil firm Tethys Petroleum reported Wednesday that its total revenue for the second quarter increased 93 percent to $10.2 million when compared to 2Q 2011.
Average oil and gas production during 2Q 2012 was 6,683 barrels of oil equivalent per day (2Q 2011: 5,681 boepd), of which the Doris field in Kazakhstan more than tripled its production to 2,927 bopd (2Q 2011: 815 bopd).
Among Tethys' highlights for the quarter were the first shipment of commercial oil production through the Aral Oil Terminal in Kazakhstan and an update to estimates of gross un-risked recoverable resources in Kazakhstan to 1.23 billion barrels of oil. The firm also received an update to estimates of mean un-risked recoverable resources in Tajikistan to 27.5 billion barrels of oil equivalent.
The firm has also been awarded a seismic contract in Tajikistan, where work is about to begin, and it has signed a 'production enhancement contract' for a new oil field – known as Chegara – in Uzbekistan.
Tethys added that the AKD07 appraisal/exploration well, which is located to the southwest of the original AKD01 (Doris) discovery well in Kazakhstan, is scheduled to spud in early September.
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