Masirah Oil Limited has awarded a drilling rig contract to Foresight Offshore Drilling Limited S.A., to utilise the Foresight Driller IX jackup rig, to drill one appraisal well in Block 50 Oman. 

The drilling rig contract will be effective for a minimum period of 30 days and is expected to commence in December 2019. Masirah Oil has an option to retain the rig for extended well testing and to drill additional wells. 

The appraisal well will be drilled to determine the potential of the Yumna field.”

Masirah Oil Limited holds a 100 per cent interest of the Block 50 Oman concession. Rex International Holding holds an effective interest of 92.65 per cent in Masirah Oil through its indirect wholly-owned subsidiary, Rex Oman Ltd. Petroci, the National Oil Company of the Ivory Coast (also known as Cote D’Ivoire) and Schroder & Co Banque S.A., hold shareholding interests of 2.35 per cent and 5 per cent in Masirah Oil respectively. The Yumna field is previously known as the GA South field.

Link to Rex International Oman country profile