Swedish firm Tethys Oil’s JV in Oman has agreed with the Ministry of Oil and Gas to change the onshore Block 3 and 4 licence area for exploration and production sharing agreement, the company said.
The new boundaries exclude a 5,480 square kilometres area in the north eastern part of Block 3, which has been returned to the ministry, Tethys Oil said in a statement on Tuesday. After the agreed adjustment the Blocks 3 and 4 licence area covers 29,130 square kilometres.
Tethys Oil AB, through its wholly owned subsidiary Tethys Oil Block 3 & 4 Ltd, has a 30 per cent interest in Blocks 3 and 4. Partners are Mitsui E&P Middle East B.V. with 20 per cent and the operator CC Energy Development S.A.L. (Oman branch) holding the remaining 50 per cent.
Tethys Oil’s share of the production, before government take, from Blocks 3 and 4 onshore the Sultanate of Oman amounted to 379,432 barrels of oil in October, corresponding to 12,240 barrels of oil per day.