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Tethys Oil submits field development plan for Block 56 in Oman

5 Jun 2024 By OUR CORRESPONDENT

Muscat – Swedish energy company Tethys Oil has achieved a significant milestone in its oil exploration and appraisal activities in Oman.

The company, through its wholly-owned Oman subsidiary, has submitted its first comprehensive Field Development Plan (FDP) for Block 56, Mudawrat Concession, to the Omani Ministry of Energy and Minerals for review and approval.

The FDP details the plan to develop and appraise resources in three discovered oil fields, the Al Jumd, Menna, and Sarha fields, covering multiple reservoirs, Tethys Oil said in a statement on its website.

The development of the fields is expected to be conducted by drilling several horizontal development wells.

‘The surface development concept will be designed to accommodate future needs and will initially use a fast-track option with export via neighbouring operators, as was the case during the Al Jumd extended well test in 2023,’ the company said.

Tethys Oil added that the FDP also includes a roadmap for a continued exploration strategy for Block 56’s additional leads and prospects.

Upon the Ministry of Energy and Minerals’ approval, the terms of the Exploration and Production Sharing Agreement for Block 56 will be extended to fulfill the commercial development of the discovered fields in the block.

The partner group for Block 56 consists of Tethys Oil as the operator with a 65% share, and the partners Biyaq Oilfield Services with a 25% share, Medco Arabia Ltd with a 5% share, and Intaj LLC with a 5% share.

“We are very pleased to have submitted the FDP for Block 56, a major milestone for Tethys Oil. We now look forward to getting the ministry’s approval to declare commerciality and start the implementation of the FDP as well as putting the fields in production. I would like to take this opportunity to thank the Ministry of Energy and Minerals, Petroleum Development Oman, and MedcoEnergi for their cooperation and support. I would also like to thank our team for their hard work and our partners on Block 56, Biyaq Oilfield Services, Medco Arabia Ltd, and Intaj LLC, for their valuable contributions,” Magnus Nordin, Managing Director of Tethys Oil, said.

Tethys Oil is an oil exploration and production company focused on onshore areas with known oil discoveries. The company’s core area is Oman, where it holds interests in Blocks 3&4, Block 49, Block 56, and Block 58.

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