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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










Production in 2016 amounts to 12,235 bopd (before government take)
Tethys Oil pays dividend and distributes SEK 4.00 per share to its shareholders


Production exceeds 11,000 bopd at the end of the year (before government take)
Tethys Oil pays dividend and distributes SEK 3.00 per share to its shareholders


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.


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.

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 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 22 mmbo and 2C Contingent Resources of 17 mmbo and had an average oil production of 12,162 barrels per day from Blocks 3&4 during 2017. Tethys Oil also has onshore exploration licences in Lithuania and France and some production in Lithuania. The shares are listed on Nasdaq Stockholm (TETY).