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Oman News

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Tethys Oil secures 20-year extension for Oman’s Block 56

The Ministry of Energy and Minerals has awarded a 20-year extension to Swedish energy company Tethys Oil for the development of Concession Area 56 in Oman

TAS News Service

info@thearabianstories.com

Tuesday, November 26, 2024

Muscat – The agreement, which now extends through to 2044, reflects the Sultanate of Oman’s continued efforts to foster long-term investment in its energy sector.
The investment in the concession area is expected to exceed RO 92.3 million (US$240 million), highlighting the significant financial commitment involved in this development.

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