In January 2022, Tethys Oil’s share of production from Blocks 3 & 4 onshore the Sultanate of Oman amounted to 325.632 barrels of oil, corresponding to 10,504 barrels of oil per day. Oman Export Blend Crude Oil’s Official Selling Price (OSP) in January 2022 was $80.26 per barrel. Tethys Oil’s monthly oil sales are benchmarked by the oil sales price OSP, which is published by the Ministry of Energy and Minerals of the Sultanate of Oman.
Tethys Oil, through its wholly owned subsidiary Tethys Oil Block 3 & 4, holds a 30% stake in Block 3 & 4. Partners are Mitsui E&P Middle East B.V. with 20 per cent and the operator CC Energy Development (Oman branch) holding the remaining 50 per cent. Tethys Oil is a Swedish oil company with a focus on onshore areas with known oil discoveries.
Oman is the company’s core business area, where it holds interests in Blocks 3 & 4, Block 49, Block 56 and Block 58. In 2021, Tethys Oil had an average oil production of 11,136 barrels per day from Blocks 3 & 4 and net working interest 2P reserves of 26.2 million barrels of oil (mmbo) and net working interest 2C contingent resources of 15.6 mmbo.