Tethys Oil AB: Production update December 2018
Tethys Oil’s share of the production, before government take, from Blocks 3&4 onshore the Sultanate of Oman amounted in December 2018 to 369,401 barrels of oil, corresponding to 11,916 barrels of oil per day.
The Official Selling Price (OSP) for Oman Export Blend Crude Oil for the month of December 2018 amounts to USD 80.20 per barrel.The OSP, as published by Sultanate of Oman’s Ministry of Oil & Gas, is the benchmark price for Tethys Oil’s monthly oil sales excluding trading and quality adjustments.
Tethys Oil AB, through its wholly owned subsidiary Tethys Oil Block 3 & 4 Ltd, has a 30 per cent interest in Blocks 3&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 8 505 947 00
The information was submitted for publication, through the agency of the contact person set out above, at 13:00 CET on 15 January 2019.
Tethys Oil AB (publ)
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). Website: www.tethysoil.com
The December 2018 OSP is the arithmetic average of the daily market price of the DME Oman Crude Oil Futures Contract for December 2018, as traded through the month of October 2018