Last year was a bad one for the partners at Oman’s Blocks 3 & 4 (Athens-based CCED 50%, Sweden’s Tethys 30%, Mitsui 20%). While Oman as a whole achieved a record high 1.064mn b/d oil production for the year, output from Blocks 3 & 4 dropped to a seven-year low of just 33,150 b/d. Initial guidance for the year was 36,670-38,330 b/d (MEES, 11 February 2022).
Tethys released its December production figures on 11 January, with its net output of 9,498 b/d equating to 31,660 b/d. Representing a slight increase from November’s 30,920 b/d, the partners will be hoping that the worst is behind them. (CONTINUED - 779 WORDS)