Tethys May oil production in Oman reaches 232,491 barrels

Business Monday 24/June/2024 17:23 PM
By: Times News Service
Tethys May oil production in Oman reaches 232,491 barrels

Muscat: Tethys Oil’s share of the production, before government take, from Blocks 3&4 onshore the Sultanate of Oman, in May 2024 amounted to 232,491 barrels of oil, corresponding to 7,500 barrels of oil per day.

The May production was impacted by the extreme weather conditions in April with heavy rain and floods. As of the middle of May, production and exports have resumed on all fields.

The Official Selling Price (OSP) for Oman Export Blend Crude Oil for the month of May 2024 was $84.14 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.

Tethys Oil, through its wholly owned subsidiary Tethys Oil Block 3 & 4, has a 30 percent interest in Blocks 3&4. Partners are Mitsui E&P Middle East 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 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 21.7 mmbo and net working interest 2C Contingent Resources of 15.5 million barrels of oil and had an average oil production of 8,818 barrels per day during 2023.