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.
Masirah Oil Ltd (“MOL”) holds a 100 per cent interest in Block 50 Oman, an approximately 17,000 sq km offshore concession located in the Gulf of Masirah, east of Oman. First oil was achieved in Block 50 Oman in February 2020 and approval of the Field Development Plan for the Yumna Field and Declaration of Commerciality ("DOC") were obtained in July 2020. The DOC enables MOL to fully develop the Yumna Field while continuing to explore the rest of Block 50 Oman.
MOL is a subsidiary of Rex International Holding Ltd (“Rex”), which holds an effective interest of 91.81 per cent through its indirect wholly-owned subsidiary Rex Oman Ltd.
Rex is an oil exploration and production company listed on the Mainboard of the Singapore Exchange Securities Trading Limited. The Company de-risks its portfolio of exploration and development assets using its proprietary liquid hydrocarbon indicator Rex Virtual Drilling technology. Rex is active in Oman and Norway through its subsidiaries Masirah Oil Ltd and Lime Petroleum AS respectively.
Rex International Holding Limited is an oil exploration and production company listed on Singapore Exchange Securities Trading Limited's Mainboard.
Lime Petroleum AS (“LPA”) is an Oslo-based pre-qualified oil and gas partner company and operator established in 2012, with a portfolio of licences focusing on mature areas close to existing oil and gas infrastructure in the Norwegian Continental Shelf. LPA has a 33.8434% interest in the producing Brage Field and a 10% interest in the producing Yme Field. It also holds interests in several other exploration and discovery assets.
Rex Technology Investments is the technology arm of the Rex Group which offers Rex Virtual Drilling screening services to oil exploration companies around the world.