Aiming for 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 is targeting to achieve first oil by early-2020.

GA south 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

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 92.65% in MOL through its wholly-owned subsidiary Rex Oman Ltd.

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