Tethys Oil AB, together with joint venture partners Mitsui E&P Middle East B.V. and CC Energy Development S.A.L., have agreed new boundaries for the Block 3 license area onshore Oman with the Ministry of Oil and Gas (MOG).
The new boundaries exclude a 2,115 square mile area in the north eastern part of Block 3, which has been returned to the MOG. After the agreed adjustment, the Block 3 and 4 license areas cover 11,247 square miles.
Tethys Oil AB, through its wholly owned subsidiary Tethys Oil Block 3 & 4 Ltd, has a 30 percent interest in Blocks 3 and 4. Mitsui E&P Middle East B.V. holds a 20 percent stake and the operator CC Energy Development S.A.L. (Oman branch) holds the remaining 50 percent interest.
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