Tethys Oil discovers three oil bearing fault blocks in Oman

tethyoil10Swedish energy company Tethys Oil has discovered three new oil bearing blocks in Farha South field on Block 3 onshore Oman

The new oil bearing blocks were discovered in three of 10 wells that were completed by the company in Oman during Q2 2012. 

Tethys Oil managing director Magnus Nordin said the firm saw a 100 per cent success rate in Q2 when drilling new fault blocks in the country.

"We are hopeful that these new discoveries will have a material impact on our resources/reserve base," Nordin remarked. 

Tethys is set to continue its drilling programme in Oman with two rigs in operation and will increase its focus in the coming months on exploration, with exploration wells set to be drilled in Block 4.

At the end of June, 14 fault blocks were in production with more planned to be drilled before the end of 2012.

Tethys has a 30 per cent interest in Block 3 and 4, while operator CC Energy Development (Oman) holds a 50 per cent stake. Mitsui E&P Middle East holds the remaining 20 per cent.

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