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Tethys Oil Announces Plans for Blocks in Oman

Source: www.gulfoilandgas.com 2/12/2019, Location: Middle East

Under current market conditions and production assumptions, Tethys Oil expects its 2019 investments for the company’s existing operations on Blocks 3&4 and Block 49 in Oman to amount to US$50-55 million.

Focus of the work program in Blocks 3&4 is continued development and appraisal drilling, upgrading of production facilities and other infrastructure, new seismic acquisition and drilling of exploration wells.

Focus on Block 49 is to continue the exploration programme. The new seismic data acquired in 2018 will be processed and interpreted in order to further define possible oil traps and to enhance the understanding of the deeper parts of the block in general. Preparations for exploration drilling will be carried out.

The annual average net production from the company’s existing operations on Blocks 3&4 in Oman during 2019 is expected to amount to between 12,000 -13,000 barrels of oil per day.

Based on the above and under current market conditions, Tethys Oil expects no change to its entitlement of oil production during 2019.

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Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


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