The company claims to have found oil in five separate formations and is planning to increase the production rate.

The company has completed drilling in the Lower Buah region and produced over 200 BOPD.

Tethys managing director Magnus Nordin said that the company is encouraged by discovering oil also in the new structure.

"Like in the previous structure, oil shows were present in several formations, while the production from the Lower Buah is still considerably lower than that obtained from well 4 (B4EW4)," Nordin added.

The company is also continuing the drilling operations at the well 4 (B4EW4) in the Lower Buah reservoir section as the structure offers good flows.