Q4 2021 Tethys Oil AB Earnings Call Transcript
Welcome to the Tethys Oil Q4 Earning Report 2021. (Operator Instructions)
Today, I am pleased to present Magnus Nordin, Managing Director; and Petter Hjertstedt, CFO. Please begin your meeting.
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Thank you very much. Good morning, everyone, and thanks for tuning in to the Q4 report for Tethys Oil. Let's get straight to the juicy stuff. If I could have the first slide. Okay, yes.
Yes. So highlights for 2021. Production, 11,136 barrels of oil per day, slightly less than we saw in 2020 and a number that's a little bit lower than we were hoping for, but there is a good reason, and that's the CapEx spending for 2021, which came in actually at $35.2 million, with the lowest spending on Blocks 3&4 we have seen since 2010, compared to the -- an overall CapEx of $45.4 million. So the whole report and the full year 2021 was quite affected by underinvestment and increasingly, during the year, backlogs and bottlenecks caused by the continued
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