Tethys Oman On The Up

Oman’s crude and condensate output fell 22,000 b/d in January to 970,000 b/d as the sultanate complied with its Opec+ obligations.

But the partners at the 40,000 b/d blocks 3&4 (CCED 50%, Tethys 30%, Mitsui 20%) don’t seem to have got the memo and are targeting record output.

Swedish firm Tethys reports that output in December had crept up incrementally to 39,720 b/d (11,916 b/d net). This was slightly above the average 2018 figure of 39,223 b/d (net 11,767 b/d). But the firm this week issued its 2019 guidance and expects net output in the range of 12,000-13,000 b/d from the two blocks. On a gross basis, that equates to 40,000-43,333 b/d. (CONTINUED - 377 WORDS)