Sweden’s Tethys Oil, a junior partner at Oman’s Blocks 3&4 (Athens-based CCED 50%op, Tethys 30%, Mitsui, 20%), is confident that the good times will keep coming. After achieving record annual output of 42,774 b/d in 2019, the firm is targeting further gains in 2020 (MEES, 24 January). Tethys says it expects net production this year at 12,600 b/d–13,400 b/d which works out to 42,000 b/d–44,670 b/d. Taken together, the assets are Oman’s fifth largest production area and a key contributor to Oman’s overall 970,000 b/d output.

The firm does however acknowledge that its exploration results in 2019 were “somewhat disappointing” after flow tests from three wells in 4Q 2019 were unsuccessful. A “full rig year” is planned in 2020 along with new seismic data; the existing fields need to add additional producing wells if it is to continue boosting output. (CONTINUED - 137 WORDS)