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Tethys Oil launches AB: Seismic campaign launched on Block 49, onshore Oman.

M2 EQUITYBITES-December 11, 2018-Tethys Oil launches AB: Seismic campaign launched on Block 49, onshore Oman

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Tethys Oil AB (STO:TETY), a Swedish oil company with focus on onshore areas with known oil discoveries, announced on Monday the launch of a new seismic campaign on Block 49. A total of 250 square kilometres (km) of 3D and 315 km of 2D seismic data will be acquired in the north-eastern part of the licence.

Reportedly, this follows the successful reprocessing of older 2D seismic data.

According to the company, the purpose of this seismic campaign is to further define possible oil traps and to enhance the understanding of the deeper parts of the block in general. Block 49 covers an area of 15,439 square km in the southwest of Oman and Tethys Oil is operator with 100% interest in the block.

Also, through the reprocessing of some 1,464 km of older 2D seismic data, acquired by previous operators, a number of seismic anomalies have been identified, which could be possible, primarily stratigraphic - oil traps.

These anomalies have been identified within the deeper formations in the block at depths of 2,500 metres or below. After integration of all available data in Tethys Oil's geological model, the presence of source rock as well as potential reservoir rocks have also been confirmed.

Tethys Oil was awarded the exploration license for Block 49 in Q4 2017 and is operator with 100% interest in the block through its fully owned subsidiary Tethys Oil Montasar Ltd. Block 49 covers an area of 15,439 square kilometres in the southwest of Oman. More than 11,000 kilometres of 2D seismic acquired by previous operators was made available to Tethys Oil. Nine wells have been drilled within the block boundaries, several of which are reported to have encountered oil shows. This new seismic survey is an important step in further understanding of the block and will play an important part in the planning and design of the continued work programme on Block 49.

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Publication:M2 EquityBites (EQB)
Date:Dec 11, 2018
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