Block 50 Oman
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. The approval of the Field Development Plan and Declaration of Commerciality ("DOC") for the Yumna Field were obtained in July 2020. As of 31 December 2024, the Yumna Field had produced 9.07 MMstb.
Block 50 Oman's position in east coast of Oman can be seen from the map above.
Yumna-2 commenced production on 23 January 2021 while Yumna-3 commenced production on 18 February 2021. In 2022, the Floating Storage Tanker was changed out. The replacement will allow for the tanker to be in the field for several years without the need for dry-docking. The Mobile Offshore Production Unit (MOPU) was also changed out with upgraded facilities on-board in the same year. The 4Q 2022 drilling campaign, which consisted of a workover of the Yumna-3 well to replace the electrical submersible pump and drilling of the Yumna-4 well that was completed for production, was completed in early-2023. In 2024, MOL completed its multi-well programme in the Yumna Field in Block 50 Oman ahead of the 90-day schedule and below budget. The multi-well programme including the drilling of the Yumna-5 well, which started production in April 2024, and workovers of three existing production wells, one more than originally planned. The production rate is being regularly optimised to maximise recovery from the field. The Group's vision is to establish viable long-term production and substantially increase the oil reserves in Block 50.
Yumna Discovery
On 4 February 2014, an oil discovery called GA South (subsequently renamed Yumna) was announced in Block 50. During a 48-hour test, hydrocarbons were flowed to the surface and the well achieved a flow rate of 3,500 stock tank barrels per day of light oil with no water production. The discovery is significant as it is the first offshore discovery east of Oman after 30 years of exploration activity in the area. The discovery won the "Offshore Discovery of the Year" award in Oman.
In early-November 2019, a drilling rig contract was awarded to drill an appraisal well in Block 50 Oman. By the end of the month, a floating storage and offloading vessel contract for an Aframax tanker with a storage capacity of more than 700,000 barrels was awarded, to store crude oil that would be produced during the early appraisal phase of the Yumna (previously known as GA South) field. On 26 December 2019, the Yumna 1 well was spudded. The well came in as prognosed and confirmed the updated reservoir model. The well tested at a production rate of 11,843 stb/d through a one-inch choke with a crude oil gravity of 42 degrees API.
First oil from the Yumna Field was achieved at the end of March 2020. As of 31 December 2024, the Yumna Field had produced 9.07 MMstb.
Explorations & Prospects
In April 2021, Masirah Oil announced that following the successful drilling of two Yumna Field development wells, it has completed drilling three exploration prospects that were located near to the Yumna Field, offshore in the Arabian Sea – Zakhera, Yumna East and Yumna North. The results confirmed the extent of the good quality Lower Aruma sandstone and will help refine MOL’s understanding of the trap mechanisms in the area.
In the fourth quarter of 2022, Masirah Oil commenced a drilling campaign which was completed in early 2023. The drilling campaign consisted of a workover of the Yumna-3 well to replace the electrical submersible pump and drilling of the Yumna-4 well, which was completed for production. Drilling of the well reached a total depth of 3,416 metres.
In 2024, MOL completed its multi-well programme in the Yumna Field in Block 50 Oman ahead of the 90-day schedule and below budget. The multi-well programme including the drilling of the Yumna-5 well, which started production in April 2024, and workovers of three existing production wells, one more than originally planned. The production rate is being regularly optimised to maximise recovery from the field.
In 2025, MOL will continue to optimise its production facilities and well operations, including the installation of a second flowline connecting the Mobile Offshore Production Unit (MOPU) to the floating storage and offloading (FSO) unit to enhance the reliability of the production system, and the commencement of a farm-out exercise in collaboration with consultants Gneiss.