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 approval of Field Development Plan for the Yumna Field and the award of Declaration of Commerciality ("DOC") were obtained on 12 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.

About Rex

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.

Masirah Oil Organisation Chart
All percentages represent effective equity interest in significant and core entities held by the Group as at 1 August 2022.

Rex International Holding Limited is an oil exploration and production company listed on Singapore Exchange Securities Trading Limited's Mainboard.

Lime Petroleum AS is an Oslo-based pre-qualified oil exploration company established in 2012, with a portfolio of licences focusing on mature areas close to existing oil and gas infrastructure in the Norwegian Continental Shelf. Lime has a 33.8434% interest in the producing Brage Field and 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.