- About Tethys Oil
- Corporate governance
- Investor Relations
Tethys Oil was awarded the The Block 49 licence in December 2017. The Block 49 licence covers an area of 15,439 square kilometres. More than 11,000 kilometres of 2D seismic data that has been acquired by previous operators has been made available to Tethys Oil. Nine wells have been drilled within the block boundaries, several of which are reported to have encountered oil shows. Among the legacy wells is the first well ever drilled in Oman in 1955 (Dauka-1).
The exploration and production sharing agreement (EPSA) for Block 49 covers an initial exploration period of three years with an optional extension period of another three years. The initial work commitments during the first period include geological studies, seismic acquisition and processing and exploratory drilling.