Oman's Block 50 Offshore Drilling Operations Pushed Back to May

Deep News04-06 21:20

Rex International Holding, through its subsidiary Masirah Oil Limited, has announced that the drilling operations for three development wells at the Yumna oilfield offshore Oman are now expected to commence in May 2026, later than previously scheduled.

Masirah Oil, which operates and holds a 100% interest in Block 50, had previously indicated that drilling could begin in the first quarter of 2026, following the completion of a $25 million bond financing in December 2025. The financing was intended to support the drilling project and operations at the Yumna field.

The financing, arranged through Rex International's Jasmine Energy, was designed to fund the drilling of three production wells aimed at increasing oil flow rates and extending the lifespan of the mature offshore field.

The updated schedule delays the project start to May, although the scope of work remains unchanged, with plans still in place to drill three development wells.

Masirah Oil is seeking to boost production and reserves at the Yumna field, which is one of Oman's smaller offshore producing assets.

The company had previously stated that the new wells are expected to enhance output and support long-term value creation for the field.

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