Tethys Oil – a growing oil company
Tethys Oil is a Swedish oil company with focus on onshore areas with known oil discoveries. The company’s core area is the Sultanate of Oman, where it holds interests in Blocks 3&4, Block 49, Block 56 and Block 58. Tethys Oil has net working interest 2P reserves of 26.1 mmbo and net working interest 2C Contingent Resources of 13.5 mmbo and had an average oil production of 12,832 barrels per day from Blocks 3&4 during 2019. The company’s shares are listed on Nasdaq Stockholm (TETY).
10,901 barrels of oil per day
Tethys Oil’s share of the production, before government take, from Blocks 3&4 onshore the Sultanate of Oman amounted in September 2020 to 327,039 barrels of oil, corresponding to 10,901 barrels of oil per day. Oil production in Oman is currently subject to production limitations under the OPEC+ agreement. As a consequence, production from Blocks 3&4 is subject to limitations but is likely to fluctuate on a monthly basis.
Block 58 - new exploration block onshore Oman
Tethys Oil’s project portfolio has expanded with Block 58 onshore Oman. The block is located in the southern part of the Sultanate adjacent to Tethys Oil’s operated exploration licence Block 49. Tethys Oil is the the operator of the block and hold a 100% license interest.