Gazexport flags shareholder concerns after Kazakhstan court revokes Akkulkovskoye oil field license in September 2025

Gazexport, a significant shareholder of Tethys Petroleum Limited, said a Kazakhstan court revoked a Tethys subsidiary’s Akkulkovskoye oil field license in September 2025 after finding regulatory shortcomings, including incomplete geological work and late or deficient reporting, and an appeal was later dismissed. The field was estimated to have about 14.1 million barrels of remaining C1 recoverable reserves as of 2010, which under current market assumptions could translate into more than $417 million in potential revenue. Gazexport described the development as a single-asset setback that does not materially reduce global crude supply but could prompt a reassessment of compliance risk in Central Asian resource jurisdictions.