Friday, 13 September 2013

Tethys Petroleum appoints VP of project development

Tethys Petroleum (TSE:TPL)(LON:TPL) has appointed Stephen Elliott to the position of VP, project development, the company announced in a statement late Wednesday. 
Elliott has been with the company since April 2009, and will now be responsible for Tethys operated projects at the project-stage, in all countries of focus. He has lived and worked in key operations areas in the last few years, working in key senior management roles. 
Currently, Elliott is the general manager of the Uzbek development projects, and is general director designate of the Georgian operating company, and will continue in these roles in the short term. 
He has also worked as general director in the Kazakh operating companies, and will be replaced there by Mikheil Ninua, who will now report to Elliott. 
Prior to starting at Tethys, Elliott worked in project management, mainly with Baker Hughes, and has spent more than 14 years working in the former Soviet Union. 
Tethys also announced it has appointed current VP of reservoir development, Mark Sarssam, to the new position of senior VP, where he will be responsible for global new ventures and associated related business development. 
The Central Asia-focused oil and gas explorer and producer has assets in Kazakhstan, Tajikistan, Uzbekistan and Georgia. Earlier this week, it (received final presidential approvals for a production enhancement contract (PEC) for the Chegara oilfields in Uzbekistan. The contract will now be registered with the relevant state authorities and work is expected to begin within the next two months.
It also said earlier this summer that it would use the funds it received from the farm-out agreement on its Bokhtar venture in Tajikistan to accelerate its Kazakhstan drilling program. The group is to follow up its successful drilling program on the Akkulka block, where 11 of the 13 wells came up trumps with commercial levels of gas, by drilling a further five shallow gas wells, starting in late September or early October.

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