KEYFACT Energy
On 23 December 2018, Tethys Oil announced that it had entered into an agreement to acquire a two percent participating interest in Block 53 onshore Oman. The closing of the acquisition was subject to government approval and the waiver of partner pre-emption rights. Tethys Oil has been informed by the seller that partner pre-emption rights have been exercised, and Tethys Oil will as a result not be able to complete the transaction.
"We are disappointed that we cannot complete this acquisition as Block 53 would have been a valuable complement to our existing asset base. Our long-term commitment to the Sultanate of Oman remains and we will continue to seek new projects and other growth opportunities," comments Tethys Oil's Managing Director Magnus Nordin.
Link to Tethys Oil Oman country page l KeyFacts Energy Oman country page