Swedish energy company Tethys Oil has discovered three new oil-bearing fault blocks at the Farha South field on Block 3 onshore concession in the north east of Oman.
The company completed ten wells in the second quarter of 2012 and is planning to drill more fault blocks later this year, according to a statement on the company website. The statement added, "Of these, three wells were drilled into the Barik reservoir of previously undrilled fault blocks, resulting in the discovery of three new oil-bearing blocks.
"As on June 30, 2012, a total of 14 fault blocks are in production with more planned to be drilled later this year. During the coming months increased focus will be on exploration."
Magnus Nordin, MD, Tethys Oil, said that the success rate has been '100 per cent' in the second quarter this year when drilling new fault blocks.
He said, "Out of three drilled three were found to be oil bearing. Again 3D seismic proves to be the key to success. We are hopeful that these new discoveries will have a material impact on our resources and reserve base."
In another statement, Tethys said that it has started drilling an exploration well on the onshore Block 4. The well is located approximately 6km east of the producing Saiwan East field and will target a prospect similar to that field. Drilling operations are expected to last for three to four weeks.
"After a period of focusing primarily on strong production growth on Block 3, this is the first pure exploration well in Block 4 for almost two years. We are very excited and look forward to a period of further exploration also on Block 4," said Nordin.
© Muscat Daily 2012
