Core area Oman

Oman, strategically located in the south eastern part of the Arabian Peninsula, overlooks the Arabian Sea, the Sea of Oman and the Arabian Gulf. It also overlooks the strategic Strait of Hormuz at the point of entry to the Arabian Gulf. Oman’s neighbours includes United Arab Emirates, Saudi Arabia and Yemen.

In this highly prospective country, Tethys Oil has its core area. With the desire and ambition to become a dedicated and successful player in the Omani oil and gas industry, Tethys Oil acquired interest in the licence for Blocks 3&4 in 2007. The blocks cover an area of 29,130 km2 in the central eastern part of Oman. Tethys Oil, through its wholly owned subsidiary Tethys Oil Block 3 & 4 Ltd, has a 30 percent interest in Blocks 3&4. Partners are Mitsui E&P Middle East B.V. with 20 percent and the operator CC Energy Development S.A.L. (Oman branch) holding the remaining 50 percent.

In 2017, Tethys Oil’s operations in Oman expanded when the exploration Block 49 was awarded to Tethys Oil as operator. Block 49 covers an area of 15,439 km2 in the south west part of Oman, bordering Saudi Arabia. Tethys Oil holds 100 percent of Block 49. The combined area of Blocks 3&4 and Block 49 amounts to almost 45,000 km2, one of the largest consession holders in Oman in terms of acreage.

Tethys Oil entered in October 2019 into an agreement to acquire a 20 percent interest in the Exploration and Production license covering Block 56 onshore Oman. The transaction is subject to Government approval.




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 25 mmbo and 2C Contingent Resources of 13 mmbo and had an average oil production of 11,767 barrels per day from Blocks 3&4 during 2018. Tethys Oil also has onshore exploration licences in Lithuania and France and some production in Lithuania. The shares are listed on Nasdaq Stockholm (TETY).