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Company history

Tethys Oil AB was founded in 2001 and was awarded its first licence onshore Denmark in 2002. Tethys has participated in a number of projects and depending on results some licences have been relinquished and others have been added.

Production history










Shareholder distribution of MSEK 106 May/June
Production first time over 10,000 bopd (July)


A four-year Senior RBL of up to MUSD 100
MSEK 400 bond redeemed


35 wells drilled on Blocks 3 and 4
New oil play discovered in the Lower Buah reservoir
Tethys Oil approved for listing on NASDAQ OMX Stockholm


Acquisition of indirect interests in oil producing assets in Lithuania.
Part of one of the Lithuanian licences farmed out to Chevron.
Extension of the licence for Blocks 3 & 4 until 2040.
Permanent production facilities completed on Blocks 3 & 4.


Acquisition of an additional licence in France, Bassin d’Ales.
Three year extension of the licence for Block 15.


20 percent of Block 3 & 4 farmed out to Mitsui.
Production started a Blocks 3 & 4.


First drilling as a partner on Blocks 3 & 4.


Re-entry and drilling of Jebel Aswad-1 started, Tethys Oil’s first well with hydrocarbons discovery.
Acquisition of interests in Blocks 3 & 4, Oman.
Award of licence on the Island Gotland in Sweden.


Tethys Oil acquired part of Block 15 in Oman.
Karlebo-1 in Denmark was drilled


IPO and listing on First North.


Acquisition of three Turkish and one Danish licence.
Acquisition of interests in three Spanish licences.


The company awarded its first licence onshore in Denmark.

About Tethys Oil

Tethys Oil is a mid sized Swedish oil company with focus on onshore areas with known oil discoveries. Tethys Oil's core area is Oman, where the company holds 2P reserves of 21.4 mmbo and has an oil production of about 12,000 barrels per day from Blocks 3 and 4. Tethys Oil also has onshore exploration licences in Lithuania and France and some production in Lithuania. The head office is located in Stockholm and the company's shares are listed on Nasdaq Stockholm (TETY).

Tethys Oil AB (publ) | Hovslagargatan 5 B, 1 tr. | SE-111 48 STOCKHOLM | Sverige | Tel 08 - 505 947 00 |