Tethys Kazakhstan SA, a subsidiary of Tethys Petroleum Ltd., has signed an MOU with PetroChina International Kazakhstan Ltd. to explore the feasibility of a long-term and mutually beneficial cooperation in natural gas and crude oil deliveries.
The main collaboration area to be explored by the parties is the proposed delivery of gas and crude oil for export to The People's Republic of China, and also for the internal market of the Republic of Kazakhstan.
Tethys has the right to export gas to China already and can sell oil on the domestic market currently, obtaining the right to export oil upon conversion of the Akkulka Exploration Contract to a Production Contract.
Adapted from press release by Joe Green