Tethys Oil AB 2016 AR2
The report highlights Tethys Oil's operational and financial performance for the fiscal year 2016, during which the company achieved a record production of 4.5 million barrels of oil, representing a 25 percent increase compared to 2015. Despite a challenging low oil price environment, the company remained cash flow positive and successfully reduced its operating expenses per barrel by over 30 percent. Tethys Oil also reported a strong reserve replacement ratio of 171 percent, increasing its 2P reserves to 21.4 million barrels. On the sustainability front, the company emphasized its commitment to health and safety, environmental protection, and human rights, aligning its operations with the UN Global Compact's ten principles.
Company: Tethys Oil AB
Sector: Energy
Country: Sweden
Year: 2016
Type: AR2
Pages: 72
Tethys Oil AB
Annual Report
The report highlights Tethys Oil's operational and financial performance for the fiscal year 2016, during which the company achieved a record production of 4.5 million barrels of oil, representing a 25 percent increase compared to 2015. Despite a challenging low oil price environment, the company remained cash flow positive and successfully reduced its operating expenses per barrel by over 30 percent. Tethys Oil also reported a strong reserve replacement ratio of 171 percent, increasing its 2P reserves to 21.4 million barrels. On the sustainability front, the company emphasized its commitment to health and safety, environmental protection, and human rights, aligning its operations with the UN Global Compact's ten principles.
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Document Details
Report Year
2016
Reporting Period
Jan 1, 2016 - Dec 31, 2016
Fiscal Year
2016
Published
Apr 1, 2017
Type
Annual Report with Sustainability Disclosures
Language
English
Pages
File Size
Standards & Assurance
Reporting Standards
Materiality Assessment
ESG Data?Experimental — AI-extracted data, may contain inaccuracies
Women in Management
Employees