Tethys July oil production in Oman reaches 264,645 barrels

Muscat: Tethys Oil’s share of the production, before government take, from Blocks 3&4 onshore in the Sultanate of Oman, in July 2023 amounted to 264,645 barrels of oil, corresponding to 8,537 barrels of oil per day.

The Official Selling Price (OSP) for Oman Export Blend Crude Oil for July 2023 was $74.94 per barrel. The OSP, as published by the Sultanate of Oman’s Ministry of Energy and Minerals, is the benchmark price for Tethys Oil’s monthly oil sales excluding trading and quality adjustments.

The July production numbers are included in the full-year production guidance of 9,000 bopd (+/- 200) as provided in the interim report for the second quarter of 2023 published on August 8.

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 (Oman branch) holding the remaining 50 percent.

Tethys Oil is an oil exploration and production company with a focus on onshore areas with known oil discoveries. The company’s core area is the Sultanate of Oman, where it holds interests in Blocks 3&4, Block 49, Block 56 and Block 58.

Tethys Oil has net working interest 2P reserves of 23.9 mmbo and net working interest 2C Contingent Resources of 14.6 mmbo and had an average oil production of 9,940 barrels per day during 2022.