Muscat: Tethys Oil has announced the commencement of drilling operations for the exploration well, Kunooz-1, located in the Fahd area on Block 58, an onshore block in the Sultanate of Oman.
"The well is scheduled to be drilled to a total depth of approximately 3,900 meters, with drilling operations anticipated to last for approximately 45 days," Tethys Oil stated in a press release.
The well, named Kunooz-1, will penetrate the Masirah Bay formation, with the primary targets being the Nafun play carbonates Buah and Khufai, located at depths of approximately 3,500 meters (Total Vertical Depth) and 3,800 meters (Total Vertical Depth), respectively. Additionally, the well will explore the Ara/Birba carbonates at an estimated depth of 3,100 meters (Total Vertical Depth) as its secondary target.
This marks Tethys Oil's inaugural exploration well on Block 58. The exploration area of Block 58 is situated near several other blocks identified on the same block, which are in close proximity to well-established playways and infrastructure found in the neighboring Block 6.
Tethys Oil, operating through its wholly owned subsidiary Tethys Oil Qatbeet Limited, is the operator of Block 58 and possesses a 100 percent license interest in the area.
As an oil exploration and production company, Tethys Oil focuses on onshore areas with known oil discoveries. The company's primary focus is the Sultanate of Oman, where it holds interests in Blocks 3&4, Block 49, Block 56, and Block 58.
Tethys Oil holds a net working interest in 2P reserves of 21.7 million barrels of oil (mmbo) and 2C Contingent Resources of 15.5 million barrels of oil (mmbo). During the year 2023, the company achieved an average oil production rate of 8,818 barrels per day.
