Tethys Oil has announced the commencement of drilling operations for the exploration well Kunooz-1 in the Fahd area on Block 58 in the Sultanate of Oman. The well, which is expected to be drilled to a total depth of 3,900 meters, will target the Masirah Bay formation with primary targets at depths of approximately 3,500 meters and 3,800 meters, as well as a secondary target at 3,100 meters. This marks Tethys Oil’s first exploration well on Block 58, with the prospect being one of several identified in close proximity to well-established play fairway and infrastructure.
Tethys Oil, through its subsidiary Tethys Oil Qatbeet Limited, operates Block 58 and holds a 100 percent license interest in the area. The company focuses on oil exploration and production in onshore areas with known oil discoveries, with its core area being the Sultanate of Oman. Tethys Oil holds interests in various blocks in Oman, including Blocks 3&4, Block 49, Block 56, and now Block 58. The company has net working interest 2P reserves of 21.7 million barrels of oil and net working interest 2C Contingent Resources of 15.5 million barrels of oil, with an average oil production of 8,818 barrels per day in 2023.
The drilling of Kunooz-1 is a significant step for Tethys Oil as it seeks to further develop its oil exploration and production activities in Oman. By targeting the Masirah Bay formation with the Nafun play carbonates Buah and Khufai as primary targets, the company aims to tap into the potential oil reserves in the area. With the well reaching depths of up to 3,900 meters, Tethys Oil is confident that it will be able to achieve its exploration objectives and potentially make significant discoveries.
The decision to drill Kunooz-1 into the Masirah Bay formation demonstrates Tethys Oil’s strategic approach to exploring new oil prospects in Oman. By focusing on areas with known oil discoveries and well-established play fairways, the company aims to maximize the success rate of its exploration activities. This approach, combined with the company’s expertise in onshore oil exploration and production, positions Tethys Oil for potential growth and success in Oman’s oil and gas sector.
As a leading oil exploration and production company in Oman, Tethys Oil is well-positioned to capitalize on the vast oil reserves in the Sultanate. With a strong portfolio of blocks in Oman and a successful track record in oil production, the company is poised for further growth and expansion. The commencement of drilling operations for Kunooz-1 is a testament to Tethys Oil’s commitment to unlocking the potential of Oman’s oil and gas resources and contributing to the country’s energy sector.
In conclusion, Tethys Oil’s drilling operations for the exploration well Kunooz-1 mark an important milestone in the company’s efforts to expand its oil exploration and production activities in Oman. With a strategic focus on onshore areas with known oil discoveries and a strong portfolio of blocks in Oman, Tethys Oil is well-positioned for growth and success in the country’s oil and gas sector. The company’s decision to target the Masirah Bay formation with Kunooz-1 demonstrates its commitment to exploring new oil prospects and tapping into the potential reserves in the area. As drilling operations continue, Tethys Oil remains optimistic about achieving its exploration objectives and making significant discoveries in Block 58.
