Achieving First Oil

The offshore Block 50 concession in Oman is a key asset of the Group. An oil discovery in the GA South well was made in 2014, the first offshore discovery east of Oman, after 30 years of exploration activity in the area. The discovery won the “Offshore Discovery of the Year” award in Oman. The Group achieved first oil in February 2020 and Declaration of Commerciality in July 2020.

GA South (renamed Yumna) Discovery

  • Drilling successfully reached the well target depth of more than 3,000 metres into the Cambrian formation.
  • Hydrocarbons were discovered in several formations with good oil sample extracted.
  • During a 48-hour test on a small choke, hydrocarbons were flowed to the surface and the well achieved a restricted flow rate of 3,500 barrels per day of light oil of high quality without water production from a sandstone reservoir of excellent quality.

Yumna Field

  • The Yumna 1 well was drilled in December 2019 to appraise the Yumna oil field and tested at a production rate of 11,843 stock tank barrels of oil per day through a one-inch choke with a crude oil gravity of 42 degrees API*.
  • The Yumna 2 well commenced production in January 2021.
  • The Yumna 3 well commenced production in February 2021.
  • In mid-March 2021, the upgrading of the Yumna Field process facilities, which more than doubled the liquid handling capacity on the Mobile Offshore Production Unit was completed.
  • As at 31 December 2021, 5.77 MMstb of oil had been produced. 12 liftings were completed in 2021.

*API refers to American Petroleum Institute gravity, a measure of how heavy or light the oil is compared to water. If API degree is greater than 10, the oil is lighter and floats on water; if less than 10, it is heavier and sinks.

Block 50

The approximately 17,000 sq km offshore concession is located in Gulf of Masirah, offshore east Oman and near the town of Duqm

Masirah oil limited

Masirah Oil Limited (“MOL”) holds 100% of the Block 50 concession. Rex International Holding holds an effective interest of 91.81% in MOL through its wholly-owned subsidiary Rex Oman Ltd.

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