Skyland Petroleum

Skyland Petroleum has started oil production at the Kyzyl-Tumshuk field in Tajikistan. Field oil output is expected to increase in the coming months as additional wells come on line. Discovered in 1959, the field has been hampered by technological and financial constraints during much of its history. The company believes that significant reserves remain in the previously drilled shallow Paleogene reservoirs and other layers. Several productive horizons have been identified. Through an investment operating agreement with state oil and gas company Naftugaz, Skyland will receive 70% of field production while recovering costs and 50% thereafter.