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Swedish firm to start Oman production next year

Muscat, February 23, 2008

Swedish oil firm Tethys Oil said it expected to start production at an onshore block in Oman by mid-2009.

Production of condensate and natural gas at block 15 is expected to begin at preliminary levels in July 2009 and rise about three-fold by October 2010 to a total of more than 12,000 barrels of oil equivalent a day, according to figures provided by Thethys in a statement.

The gas production is estimated to remain stable for a five-year plateau while condensate output is estimated to decline by 20 per cent a year, it said.

Tethys is the operator of the block with a 40 per cent interest, while Denmark's Odin Energi holds the rest.

Tethys also has acquired 50 per cent interests in onshore blocks 3 and 4 in Oman, according to its Web site.-Reuters




Tags: Oman | Oil | production | firm | Swedish |

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