Tethys Oil, now under Chinese ownership, is shifting its focus in Oman away from its only producing asset Blocks 3&4 (CCED 50%op, Tethys 30%, Mitsui E&P 20%), where output continues its steady downwards trajectory, hitting a decade-low 27,000 b/d for 2024.
The company is hoping that Block 56 (Tethys 65%, Biyaq 25%, Medco 5%, Intag 5%), where its field development plan was approved in November, can reverse its fortunes (MEES, 29 November 2024). The firm is looking to develop the Al Jumd discovery over 2025-2026 and the Sarha and Menna discoveries from 2026-2027. (CONTINUED - 306 WORDS)
