Masirah Oil Ltd (“MOL”) 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. First oil was achieved in Block 50 in February 2020 and the Yumna field was declared commercial in July 2020.
The offshore Block 50 concession in Oman is a key asset of the Group. The Group successfully achieved first oil in Yumna 1 in February 2020. The well came in as prognosed and confirmed the updated reservoir model.