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Masirah Oil holds 100 percent of the Block 50 Oman, an approximately 17,000 sq km offshore concession located in Gulf of Masirah, east of Oman.
First oil was achieved in Block 50 in February 2020 and the approval of the Field Development Plan for the Yumna Field and Declaration of Commerciality were obtained in July 2020.
Block 50 Oman
The offshore Block 50 concession in Oman is a key asset of the Group. The Group successfully achieved first oil in the Yumna Field in February 2020. As of 31 December 2022, the Yumna Field had produced 7.1 MMstb of oil.
Masirah Oil Ltd is an oil producer and holds 100 per cent of the Block 50 Oman, an approximately 17,000 sq km offshore concession located in Gulf of Masirah, east of Oman. Masirah Oil is a subsidiary of Rex International Holding.
As a relatively young company, Masirah Oil considers human capital as one of its key assets. The Company embraces diversity and values experience, skills and talent as it aims to build a strong operations team that is aligned to the Group’s values of innovation, integrity and entrepreneurship.
As a young company, Masirah Oil Ltd aspires to do its part in the areas of environmental, social and governance (ESG).
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