Masirah Oil discovers oil offshore Oman

offshore oman-ky chua flickrThe well was reportedly drilled using the independent leg cantilever jack-up drilling rig Aban VII. (Image source: Ky Chua/Flickr)Rex International has announced that its subsidiary Masirah Oil has struck oil in Block 50 offshore Oman

Singapore-listed company said that the well, second in the two-well drilling programme under the concession, had reached the target depth in the block to its final depth of more than 3,000 metres into the Cambrian formation.

The company spokesperson said, “Hydrocarbons were discovered in several formations with good oil sample extracted. The well will undergo data acquisition before setting the completion for testing. The discovery is a significant step towards the deepening of our knowledge and understanding of the offshore geology in the east of Oman, where no discovery has been made before.”

The well was reportedly drilled using the independent leg cantilever jack-up drilling rig Aban VII.

Masirah Oil owns 100 per cent of the offshore concession in Oman. Lime Petroleum holds 64 per cent of Masirah Oil while Petroci Holding, state-owned oil company of Côte d’Ivoire, has the remaining 36 per cent participating interest.

Rex International and Hibiscus Petroleum own a 65 per cent and a 35 per cent stake respectively in the jointly-controlled entity Lime Petroleum.

 

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