CC Energy Development S.A.L. (Oman) Ltd (CCED), operators of the onshore Block 03 (Afar) licence in the east of Oman, has completed drilling the exploration well, V-1 which was spudded in Q4 2017. The well is located 2 km northeast of Farha Southâs fault block F in the Huqf Arch of the Oman Basin, southwest Block 03. Tethys Oil AB (partners in the concession) reported that the well reached a total depth of 2,530 m but did not encounter hydrocarbons. The well was designed to test the Amin Formationâs productive potential and analysis is reported to be on-going. The Farha South field was discovered in July 1986 by Japan Petroleum Development Company of Oman (JPDO) and in a farm-out flyer from early 2005, Encana described it as a non-commercial 38Â° API oil field. Tethys acquired a 50% interest in the field in December 2007, later reducing the interest to 30% after completing a farm-out to Mitsui E&P Middle East B.V. (MEPME). On initial testing in April 2009, the Farha South 3 appraisal well flowed 550 bbl of 40Â° API oil over 17.5 hours. Development drilling at Farha South has been underway since December 2011. The field commenced improved recovery with a successful waterflood scheme in December 2012 and the Paleozoic Barik Sandstone Member is the productive reservoir. Oil has also been discovered at Farha South in the Lower Al Bashair Member and Tethys believes it has productive potential, despite its complexity.  CCED operate Block 03 (Afar) and Block 04 (Ghunaim) with a 50% interest, the remaining interests are held by Tethys Oil (30%) and Mitsui E&P Middle East B.V. (20%).Â  Â  Â 
Exploration well, V-1, Block 03 did not encounter hydrocarbons.CCED operate Block 03 (Afar)the remaining interests are held by Tethys Oil (30%) and Mitsui E&P Middle East B.V. (20%).     