Muscat: Tethys Oil's contribution to the production, prior to the government's share, from Blocks 3&4 onshore in the Sultanate of Oman, during the month of July 2024, amounted to a total of 238,290 barrels of oil, equivalent to 7,687 barrels per day.
The Official Selling Price (OSP) for Oman Export Blend Crude Oil during the month of July 2024 was set at $83.89 per barrel. This figure, as reported by the Ministry of Energy and Minerals of the Sultanate of Oman, serves as the benchmark price for Tethys Oil's monthly sales, excluding any trading or quality adjustments.
Tethys Oil, through its wholly owned subsidiary, Tethys Oil Block 3 & 4, possesses a 30 percent interest in these blocks. The partnership includes Mitsui E&P Middle East with a 20 percent stake, and the remaining 50 percent is held by the operator CC Energy Development (Oman branch).
Tethys Oil operates as an oil exploration and production company, with a focus on onshore areas that have been identified with oil discoveries. The company's primary focus is on the Sultanate of Oman, where it holds interests in Blocks 3&4, Block 49, Block 56, and Block 58. As of now, Tethys Oil has a net working interest in 2P reserves of 21.7 million barrels of oil (mmbo) and a net working interest in 2C Contingent Resources of 15.5 mmbo. The company achieved an average daily oil production of 8,818 barrels during the year 2023. Its shares are publicly listed on the Nasdaq Stockholm exchange.
