Masirah Moves to Next Stage of Work Program for Oman's Offshore Block 50
Rex International Holding Limited (Rex International Holding or the Company, and together with its subsidiaries, the Group), one of the largest companies listed on the Catalist of the Singapore Exchange Securities Trading Limited, referred Thursday to the March 6 press releases issued by Masirah Oil Ltd (Masirah), a 64 percent indirectly owned subsidiary of its jointly-controlled entity, Lime Petroleum Plc (Lime), which announced the following:
"Muscat, March 6: Masirah Oil Limited (Masirah) today announced the test flow rates of the previously announced discovery at the second exploration well in Block 50 Oman, were very encouraging.
The exploration well was drilled to its final depth into the Cambrian formation. The key objectives of the exploration well were to prove the presence of movable hydrocarbons and a working petroleum system within the block. Several zones in the well show evidence of hydrocarbon presence.
During a 48-hour test, hydrocarbons were flowed to the surface and the well achieved light oil flow rate of up to 3,000 stock tank barrels per day (stb/d) with no water production.
This is the first offshore oil discovery in the east of Oman after more than 30 years of exploration activities.
Hans Lidgren, chairman of Masirah, said, “The second exploration well produced at high and stable rates and the well is currently suspended. The successful testing will allow us to deepen our knowledge and understanding of the offshore geology in the east of Oman and assist in our decisions on our further exploration, appraisal and development plans for this 6,563 square miles (17,000-square-kilometer) block.
“We are excited to continue to collaborate closely with the Ministry of Oil and Gas in Oman and our ultimate shareholders Rex International Holding Ltd in Singapore, Hibiscus Petroleum Berhad in Malaysia and PETROCI the National Oil Company of Cote D`Ivoire,” he added."
12
View Full Article
WHAT DO YOU THINK?
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.
- Falcon Oil Declares Commercial Flow Test Results for Shenandoah Well
- UK Oil Regulator Publishes New Emissions Reduction Plan
- Japan Failing to Meet Corporate Demand for Clean Power: Amazon
- PetroChina Posts Higher Annual Profit on Higher Production
- McDermott Settles Reficar Dispute
- Macquarie Strategists Expect Brent Oil Price to Grind Higher
- US, SKorea Launch Task Force to Stop Illicit Refined Oil Flows into NKorea
- Russian Navy Enters Warship-Crowded Red Sea Amid Houthi Attacks
- Pennsylvania County Joins List of Local Govts Suing Big Oil over Climate
- USA Commercial Crude Oil Inventories Increase
- Equinor Makes Discovery in North Sea
- Standard Chartered Reiterates $94 Brent Call
- India Halts Russia Oil Supplies From Sanctioned Tanker Giant
- DOI Announces Proposal for Second GOM Offshore Wind Auction
- Centcom, Dryad Outline Recent Moves Around Red Sea Region
- PetroChina Set to Receive Venezuelan Oil
- Czech Conglomerate to Buy Major Stake in Gasnet for $917MM
- US DOE Offers $44MM in Funding to Boost Clean Power Distribution
- Oil Settles Lower as Stronger Dollar Offsets Tighter Market
- UK Grid Operator Receives Aid to Advance Rural Decarbonization
- Chinese Mega Company Makes Major Oilfield Discovery
- VIDEO: Missile Attack Kills Crew Transiting Gulf of Aden
- Norway Regulator Blasts Proposal to Halt New Oil and Gas Permits
- Chinese Mega Company Makes Another Major Oilfield Discovery
- What Is the Biggest Risk to Offshore Oil and Gas Personnel in 2024?
- Vessel Sinks in Red Sea After Missile Strike
- Exxon Rights in Stabroek Do Not Apply to Hess Merger with Chevron: Hess
- Analysts Reveal Latest Oil Price Outlook Following OPEC+ Cut Extension
- Equinor Makes Discovery in North Sea
- Standard Chartered Reiterates $94 Brent Call