Tethys Oil signs drilling rig deal for Block 58 in Oman

Swedish energy company Tethys Oil announced that it is continuing its operational activities on Block 58, onshore Oman.

The company on Tuesday said that the preparations for the drilling of the first exploration well, Kunooz-1, in the Fahd area are ongoing and a rig contract has been signed with Gulf Oilfield Services (GOS).

The contract for the rig was signed with Gulf Oilfield Services during a signature ceremony. Signatory on behalf of Tethys Oil was Dr Fredrik Robelius, CTO and General Manager of Block 58. Signatory of GOS was CEO Ali al Busaidi.

Gulf Oilfield Services is fully owned by Kuwait Drilling Company (KDC) and has been drilling in Block 7 Oman, contracted with Hydrocarbon Finder E&P, utilising heavy rigs since May 2022.

GOS has achieved zero Lost Time Incidents (LTI), including one full year achieving goal zero milestones. In less than two years, the company has managed to achieve more than 60% Omanisation.

KDC as the parent company of GOS, is one of the first drilling contractors in the region and has been drilling oil and gas wells since the early 1960’s with a comprehensive experience in all type of wells, from shallow to deep wells.

“We are pleased to have signed a drilling rig contract with GOS for the first exploration well on the Kunooz prospect as they have a strong track-record of safe and efficient drilling operations. We plan to commence drilling on the high-potential prospect, estimated to hold unrisked recoverable prospective resources of more than 100 mmbo, in midApril,” Magnus Nordin, Managing Director of Tethys Oil, said.

Tethys Oil recently announced that its share of the production, before government take, from Blocks 3 & 4 onshore Oman, in January 2024 amounted to 263,552 barrels of oil, corresponding to 8,502 barrels of oil per day.

Tethys Oil, through its wholly owned subsidiary Tethys Oil Block 3 & 4 Ltd, has a 30% interest in Blocks 3 & 4. Partners are Mitsui E&P Middle East with 20% and the operator CC Energy Development (Oman branch) holding the remaining 50%.

Tethys Oil said the preparations for the drilling of the first exploration well, Kunooz-1, in the Fahd area in Block 58 are ongoing and a rig contract has been signed with Gulf Oilfield Services