Tethys Oil Production Update December 2023

Tethys Oil’s share of the production, before government take, from Blocks 3&4 onshore the Sultanate of Oman, in December 2023 amounted to 264,734 barrels of oil, corresponding to 8,540 barrels of oil per day.

The Official Selling Price (OSP) for Oman Export Blend Crude Oil for the month of December 2023 was USD 89.79 per barrel. The OSP, as published by Sultanate of Oman’s Ministry of Energy and Minerals, is the benchmark price for Tethys Oil’s monthly oil sales excluding trading and quality adjustments.

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