Page 9 - MEOG Week 25 2021

MEOG PERFORMANCE MEOG

Tethys provides Oman

production update

OMAN SWEDEN’S Tethys Oil last week announced that Magnus Nordin said: “This is not a discovery yet,
its oil production from Oman’s onshore Blocks 3 but we are very encouraged by the progress so
& 4 had averaged 11,190 barrels per day (bpd) far and it is great news for the overall prospec-
during May. tivity of the block. Now we have to be patient for
Its crude is sold under the official selling price another three weeks as we await the test results.”
(OSP) for Oman Export Blend, which averaged Thameen-1 is located in the north of Block
$64.43 for the month. The company noted 49 at Marsudad village. The well encountered
that Omani output remained restricted by the hydrocarbon shows in its primary target, the late
OPEC+ agreement, adding that Block 3 &4 out- Ordovician Hasirah sandstone layer at a depth of
put was likely to fluctuate from month to month 3,500 metres. At the time of drilling, Tethys said
as a result. April output was 10,234 bpd, while it would also test mid-Ordovician Saih Nihayda
that for March was 11,508 bpd. Average Q1 pro- sandstone at 3,700 metres, as well as investigating
duction was reported at 11,585 bpd, with 50% the shallower Gharif Sandstone.
of this net to Tethys. Meanwhile, by comparison, Nordin said: “The Thameen-1 well is
production from the two fields ran at 13,032 bpd designed to penetrate several potentially hydro-
during Q1 2020. carbon-bearing rock layers. We have three
The company owns a 30% equity interest in defined targets, but we will analyse all data from
the two blocks and is partnered by Mitsui E&P the well to increase our understanding of the
Middle East (MEPME, 20%) and operator CC potential oil plays in the block, conventional as
Energy Development (50%). well as unconventional.”
During Q1, the company announced that it Tethys is using the Abraj-204 drill rig, which
had hit oil with its Thameen-1 well in Oman’s is on contract from Abraj Energy Services. The
onshore Block 49 following drilling work that Swedish firm estimates its net working interest
began in early January. 2P reserves at 26.9mn barrels of oil and 2C con-
Commenting on the news, managing director tingent resources of 13.9mn barrels of oil.™

Tethys Oil’s acreage in
Oman.

Source: Tethys Oil

Week 25 23•June•2021 www. NEWSBASE .com P9