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Tethys Oil AB has announced that exploration well Thameen-1, which is located on Block 49 onshore the Sultanate of Oman, has encountered hydrocarbon shows in its primary target, the Hasirah Sandstone.
Tethys Oil AB has announced that exploration well Thameen-1, which is located on Block 49 onshore the Sultanate of Oman, has encountered hydrocarbon shows in its primary target, the Hasirah Sandstone.
The company said the next step in evaluating the well is to commence a well testing program in an attempt to flow hydrocarbons to surface. The result of the testing program is expected within three weeks, the company noted.
“This is not a discovery yet, but we are very encouraged by the progress so far and it is great news for the overall prospectivity of the block,” Tethys Oil’s managing director Magnus Nordin said in a company statement.
Rigzone talks to analysts about what the recent oil price rise could mean for OPEC+ relations.
OPEC+ relations are likely to be strained as prices continue to rise, oil demand increases, and the more financially distressed oil producers look to take advantage of increased prices in the short-term as well as a higher outlook for prices between now and the end of 2022.
That’s what Matthew Bey, a Stratfor analyst with RANE, told Rigzone recently, adding that Russia and Iraq in particular will push OPEC+ to increase production more quickly, and perhaps even move up the April 2022 ending date for the group’s current pact, depending on how quickly demand recovers.
The American Petroleum Institute is considering throwing its weight behind a government-imposed price on carbon dioxide emissions as a way to slow global w.