Tethys to withdraw from projects in Uzbekistan

Photo: Tethys to withdraw from projects in Uzbekistan  / Oil&Gas

Tashkent, Uzbekistan, Jan.3
By Demir Azizov- Trend:

Tethys Petroleum Ltd., registered in Guernsey, in the Channel Islands, specialising in the exploration and development of oil and gas fields in Central Asia, has decided to withdraw from the oil and gas projects in Uzbekistan, the company said on Jan.3.

The decision was made 'due to recent changes in the business climate and political environment', according to the company.

It is expected that the process of withdrawing from the projects will take up to three months.

"This strategic decision will allow Tethys to concentrate its capital in other countries," the company said.

Translated by L.Z.

Edited by S.M.

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