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Tethys Active in Uzbekistan

TASHKENT, Uzbekistan — Tethys Petroleum said it hopes to strike a deal with Uzbekistan this year to develop a highly prospective block, after winning the right to develop another oil field in the Central Asian nation.

Tethys, listed in London and Toronto, said it hoped to sign a contract this year with Uzbekistan for rights to explore and develop a large exploration block in the North Ustyurt basin.

"I think independents need Uzbekistan. It's a great place to work, and it's a perfect place for independents to flourish," David Robson, chairman, president and chief executive of Tethys, said Wednesday on the sidelines of the annual Oil and Gas of Uzbekistan conference.

(Reuters)

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