Block 4 Partners to Kick Off 3D Seismic over Saiwan Discoveries

The partners on Block 4 onshore Oman, CCED (Oman) Ltd (operator) and Tethys Oil AB, have awarded the contract for a 3D seismic survey to BGP Oil and Gas Services of China. Mobilization is ongoing and acquisition is expected to commence within the next two weeks. The objective of the survey is to define and map the extension of the light oil and the heavy oil reservoirs penetrated earlier this year. The acquisition of the seismic data is estimated to take approximately 90 days to complete.

The 3D-seismic survey will amount to 400 square kilometers and will cover the entire Saiwan East structure.

The Saiwan East-2 well, drilled in May 2009, confirmed the presence of a gross heavy oil column of more than 400 meters. The same well also penetrated the Khufai limestone, which flowed 280 bbls a day of light oil on test.

"We are delighted that the same contractor that did the high quality seismic acquisition on Tethys' Block 15 has been awarded the contract. This 3D seismic survey is an important step in further understanding and proving up the resource base and evaluating the development potential of the Saiwan East discoveries," commented Tethys' Managing Director Magnus Nordin.

Tethys has a 50 percent interest in the licenses covering Blocks 3 and 4. Consolidated Contractors Energy Development (Oman) Ltd holds the remaining 50 percent and is operator.