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EDITOR IN CHIEF- ABDULLAH BIN SALIM AL SHUEILI

Tethys Oil sees output growth from Blocks 3&4

14 TETHYS OIL
14 TETHYS OIL

Muscat: Swedish oil company Tethys Oil says its share of the production, before government take, from Blocks 3 & 4 onshore the Sultanate of Oman for January 2019 amounted to 380,340 barrels of oil, corresponding to 12,269 barrels of oil per day.

The company’s share of production increased from 369,401 barrels of oil in December, corresponding to 11,916 barrels of oil per day.

The company added that the Official Selling Price (OSP) for Oman Export Blend Crude Oil for the month of January 2019 amounted to $66.28 per barrel. The OSP, as published by Oman’s Ministry of Oil & Gas, is the benchmark price for Tethys Oil’s monthly oil sales excluding trading and quality adjustments.

The firm’s local subsidiary, Tethys Oil Oman Limited has a 30 per cent interest in Blocks 3 & 4, home to the producing Farha South, Shahd and Saiwan East fields. Independent oil and gas exploration and production company CC Energy Development SAL (Oman branch) is the operator of the Block with a 50 per cent interest, while Mitsui E &P Middle East holds the balance 20 per cent interest.


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