Tethys Oil has underlined its position as one of the most active exploration firms in Oman, on 5 July signing an exploration and production sharing agreement for 100% of onshore Block 58.
The agreement covers a three-year initial exploration period with a commitment to shoot 3D seismic and drill two wells, followed by an optional three-year extension. Should a commercial discovery be made an Oman state firm, presumably recently-integrated OQ (MEES, 20 December 2019), is entitled to take “up to” 30%. (CONTINUED - 813 WORDS)
