OMAN ASSET PRODUCTION INCREASES TO NEW RECORD LEVEL – AVERAGING 13,834 BOPD IN AUGUST


Test production from the Early Production System (EPS) on Blocks 3 and 4
onshore the Sultanate of Oman continues and amounted in August 2012 to 428,865
barrels of oil, corresponding to 13,834 barrels of oil per day (BOPD). Tethys’
share of the production, before government take, amounts to 30 per cent of the
total, or 128,660 barrels.


Long term production tests have been carried out on wells from both the Saiwan
East oil field on Block 4 and the Farha South oil field on Block 3. Production
rates continue to vary depending on test programme design and available
capacity.

Tethys has a 30 per cent interest in Blocks 3 and 4. Partners are Mitsui E&P
Middle East B.V. with 20 per cent and the operator CC Energy Development S.A.L.
(Oman branch) holding the remaining 50 per cent.

 

For further information, please contact

Magnus Nordin, Managing Director, phone +46 70 576 6555; magnus@tethysoil.com

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Tethys Oil AB (publ)

Tethys Oil is a Swedish energy company focused on exploration and production of
oil and natural gas. Tethys Oil’s core area is Oman, where the company is one
of the largest onshore oil and gas concession holders. Tethys Oil also have
exploration and production assets onshore France, Lithuania and Sweden. The
shares are listed on First North (TETY) in Stockholm. Remium AB is Certified
Adviser.

Website: www.tethysoil.com

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).