Tethys Oil AB has announced that exploration well Thameen-1, which is located on Block 49 onshore the Sultanate of Oman, has encountered hydrocarbon shows in its primary target, the Hasirah Sandstone.
The company said the next step in evaluating the well is to commence a well testing program in an attempt to flow hydrocarbons to surface. The result of the testing program is expected within three weeks, the company noted.
“This is not a discovery yet, but we are very encouraged by the progress so far and it is great news for the overall prospectivity of the block,” Tethys Oil’s managing director Magnus Nordin said in a company statement.
“Now we have to be patient for another three weeks as we await the test results,” he added in the statement.
Tethys Oil, through its wholly owned subsidiary Tethys Oil Montasar Ltd., is the operator of the block and holds a fifty percent working interest in the exploration and production sharing agreement covering the block.
Drilling operations at Thameen-1 began in early January this year. Tethys Oil entered into a farmout agreement with EOG Resources Inc. in November 2020, where EOG acquired a 50 percent interest in the exploration and production sharing agreement covering the block.
Tethys Oil is a Swedish oil company with a focus on onshore areas with known oil discoveries, the company’s website states. Its core area is said to be the Sultanate of Oman, where it holds interests in Blocks 3&4, Block 49, Block 56 and Block 58. The company has net working interest 2P reserves of 26.1 million barrels of oil, net working interest 2C Contingent Resources of 13.5 million barrels of oil, and had an average oil production of 12,832 barrels per day from Blocks 3&4 during 2019, its website shows.
To contact the author, email andreas.exarheas@rigzone.com
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