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An announcement from Tethys Petroleum ( (TSE:TPL) ) is now available.
Tethys Petroleum has announced its recent advancements in regulatory approvals and operational milestones at the Kul Bas oil field. The company has secured ecological and environmental permits for 2024 and 2025, allowing domestic production of up to 490 tons/day. Additionally, Tethys has applied to transition to the Production Period, which would enable long-term field development and export opportunities. The completion of the Central Processing Facility and Gas Utilization Facilities marks the end of Phase 1, aimed at managing associated gas emissions and improving production. Despite logistical constraints and a ban on naptha exports impacting oil prices, Tethys remains committed to optimizing operations and meeting regulatory standards.
More about Tethys Petroleum
Tethys Petroleum Limited is an oil and gas exploration and production company with operations focused on the Kul Bas oil field. The company is involved in developing oil production capabilities and enhancing operational efficiency while complying with environmental regulations in Kazakhstan.
YTD Price Performance: 52.50%
Average Trading Volume: 3,119
Technical Sentiment Consensus Rating: Strong Sell
Current Market Cap: $160.2M
See more data about TPL stock on TipRanks’ Stock Analysis page.
