Tethys Oil is not giving up on a portion of a block in Oman despite failing to find commercial oil flows with its latest exploration well.
The Swedish independent struck oil shows at the Maha-1 well on the onshore Block 3 but the oil saturation was too low to be produced, it revealed on Monday.
The well has now been suspended “to enable further studies in the future”, the company wrote in a statement.
“Oil is clearly present in the Maha part of Block 3. However additional seismic will be required to mature leads to prospect in this area,” managing director Magnus Nordin. Commented.
The latest well was drilled south-west of the producing Farha trend in an area not currently covered by 3D seismic.
The well was drilled to a total depth of 1465 metres and hit the Barik sands at 1409 where minor oil shows were found. A subsequent sidetrack well discovered even less oil, however.
“The drilling programme on Block 3 continues with two rigs currently operating on wells FS-18 and FS-31 respectively,” Tethys continued.
“Both wells are located within the Farha trend 3D seismic area and are targeting as yet undrilled fault blocks.”
Source: Upstream Online