Tethys Oil

Tethys Oil is a Swedish onshore oil exploration and production company whose core area of operation is Oman. The company is listed on the NASDAQ Stockholm stock exchange with the ticker TETY.

Tethys Oil has been present in Oman since 2006 and is one of the largest acreage holders in the country. It holds interests in blocks 3 and 4, Block 49, Block 56 and Block 58 and has produced more than 42 million barrels to date.

• Blocks 3 and 4 cover an area of 29,130 square kilometres in eastern Oman. Tethys Oil has a 30% interest in the blocks while Mitsui holds 20% and CC Energy Development, the block’s operator, holds 50%.
• Block 49 covers an area of 15,439 square kilometres on the border with Saudi Arabia in southwestern Oman and is 100% held by Tethys Oil.
• Block 56 covers an area of 5,808 square kilometres in southeastern Oman. Tethys Oil holds a 65% interest and is the operator in the block. The block is shared with Omani companies Biyaq (25%), Intaj (5%) and Malaysia’s Medco (5%).
• Block 58 covers an area of 4,557 square kilometres in southern Oman and is 100% held by Tethys Oil.

Outside of Oman, Tethys Oil holds interest in the Gargzdai licence in Lithuania, which is in production with less than 100 bopd net to Tethys Oil. 

Tethys Oil had an estimated 21.7 million boe of proven and probable reserves in 2023 and contingent resources of 15.5 million boe.