Operations
Tethys Oil is an oil exploration and production company with focus on onshore areas with known oil discoveries. The company’s core area is the Sultanate of Oman, where it has been present since 2006 and currently holds interests in Blocks 3&4, Block 49, Block 56 and Block 58. Tethys Oil has 2P reserves of 23.9 mmbo and 2C Contingent Resources of 14.6 mmbo and had an average oil production of 9,940 barrels per day during 2022. The company’s shares are listed on Nasdaq Stockholm (TETY).
| Country | License | Total area (km2) | Tethys Oil’s share | Partners | Phase |
|---|---|---|---|---|---|
| Oman | Blocks 3 &4 | 29,130 | 30% | CCED, Mitsui | Production |
| Litauen | Gargzdai | 884 | 25% | Odin Energi, Geonafta | Production |
| Oman | Block 49 | 15,439 | 100%* | EOG* | Exploration |
| Oman | Block 56 | 5,808 | 65% | Medco, Biyaq, Intaj |
Exploration |
| Oman | Block 58 | 4,557 | 100% | – | Exploration |
* Interest percentage reflects a change that occurred as EOG withdrew from Block 49. The withdrawal was announced in 2021 and Tethys Oil is currently in the formal process to receive final government approval to again have a 100 percent interest share in the Block.