Tethys Petroleum Launches Aral Oil Terminal
OREANDA-NEWS. February 09, 2012. Tethys Petroleum Limited ("Tethys" or the "Company") (TSX: TPL)(LSE: TPL) announced the official inauguration of its Aral Oil Terminal ("AOT") - a new oil storage and rail loading facility for oil shipments from the Company's Doris oilfield into the Kazakh rail system, reported the press-centre of KASE.
The AOT is located approximately 230 km from the Doris oil field, significantly reducing the distance oil is currently trucked by road from the field. The opening of AOT will allow the Company to initially double production to approximately 4,000 barrels of oil per day ("bopd") due to a halving of the road trucking distance.
Furthermore, the current rail loading point at Emba experiences bottlenecks due to overuse by many different companies; the AOT will be dedicated to Tethys oil sales. The opening of the AOT will thus reduce transportation costs significantly and will result in an increased realised oil price. The recent acquisition of additional road trucks means that 240 are now in daily operation.