Tethys says that the Ministry of Oil and Gas of the Sultanate of Oman has approved the Field Development Plan for Blocks 3 and 4, and consequently the declaration of commerciality where the Exploration and Production (EPSA) term of Block 3 and 4 is extended for a period of 30 years from the deemed discovery date of July 20, 2010.

'We are extremely pleased with the approvals and would like to take this opportunity to express our sincere thanks to the Ministry of Oil and Gas of the Sultanate of Oman, to the operator CCED and our partner Mitsui. Tethys is proud to be part of these efforts to turn Blocks 3 and 4 into a major oil producing region,' says Tethys Managing Director Magnus Nordin.

Tethys Oil AB, through its wholly owned subsidiary Tethys Oil Block 3 and 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.

Tags: Tethys Oil