- Gas production resumes with 95% of wells operational, reaching stable output of 205,000-210,000 cubic meters per day.
- Oil production averages 320 tons daily following weather-related disruptions in March.
- Net Present Value (NPV) declines by 11% to $560 million, impacted by lower Brent prices and geopolitical factors.
Tethys Petroleum (TSXV: TPL) has announced an operational update from its sites in Kazakhstan. As of April 10, 2025, gas production has resumed at the company's Akkulka and Kyzloi fields, with 20 out of 21 wells actively contributing to a stable daily production range of 205,000 to 210,000 cubic meters.
In terms of oil production, the company faced disruptions in March due to severe weather conditions that temporarily reduced output. However, recent figures indicate that production has now stabilized, averaging 320 tons per day.
The latest reserve report prepared by McDaniel and Associates Consultants reveals a stable year-over-year status in total proved and probable reserves. Nonetheless, the Net Present Value (NPV) at a 10% discount rate has seen an 11% decline, falling from $629 million in 2023 to $560 million. This decrease is largely attributed to falling Brent crude prices, widening export differentials, and government-imposed restrictions on refined product exports adversely affecting domestic refinery prices.
Tethys Petroleum remains focused on oil and gas production activities in Central Asia and the Caspian Region, despite facing increased export costs due to a challenging fiscal and regulatory environment. This situation has particularly impacted independent and foreign producers who do not have access to state-backed infrastructure and domestic sales channels.
