Apr 19 2012 |
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Tethys' oil output touches 11,658 bpd
Muscat: Test production from the Early Production System (EPS) on Blocks 3 and 4 onshore in the Sultanate of Oman continues and amounted to 361,394 barrels of oil in March 2012, corresponding to 11,658 barrels of oil per day (bpd).The share of production of Tethys Oil, a Swedish energy company, before government take, amounts to 30 per cent or 108,418 barrels.
Long-term production tests have been carried out on wells from both the Saiwan East oil field on Block 4 and the Farha South oil field on Block 3. Production rates continue to vary depending on test programme design and available capacity. Other partners include Mitsui E&P Middle East with 20 per cent interest and the operator CC Energy Development (Oman branch) holding the remaining 50 per cent. The review of the contingent resources in Oman has been conducted by independent petroleum consultant DeGolyer and MacNaughton (D&M). The report has been calculated using 2007 Petroleum Resources Management System, Guidelines of the Society of Petroleum Engineers, World Petroleum Council, American Association of Petroleum Geologists and the Society of Petroleum Evaluation Engineers.
Contingent resources
The contingent resources are located on Block 3 and 4 onshore Oman. A filed development plan has been submitted to the Oman's Ministry of Oil and Gas.
In their report, effective December 31, 2011, D&M has estimated the contingent resources in the Barik layer in Block 3 and the Khufai layer in Block 4.
The estimates are also limited to reservoirs on production, or reservoirs that are likely to be put into production during 2012 in fault blocks that have been penetrated by producing wells. Further extensions of the production layers as well as other reservoirs on the licensed blocks that did not have production were not included.
Prospective resources
In addition, Tethys holds prospective resources along the Farha Trend on the Farha South oil field on Block 3.
The prospective resources is an estimation using Tethys volumetrics on prospects and leads within the Farha South 3D area mapped as at year end 2011. The recovery factors applied are derived from the D&M Farha South contingent resource report. The estimates have been limited to prospects and leads that are likely to be explored during 2012. Further extensions of the Farha trend as well as other prospects and leads outside the Farha South 3D area have not been included.
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