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PRODUCTION UPDATE JUNE 2022

Updated: Apr 13, 2023

MASIRAH OIL LTD-PRESS RELEASE


Muscat, 7 July 2022: Masirah Oil Limited (“MOL”) today announced that gross oil production in June 2022 from the Yumna Field in offshore Block 50 Oman, amounted to an average of 4,097 stock tank barrels per day (stb/d) over 11 days (Full month average: 1,502 stb/d).


Production has been shut-in since 11 June 2022 when a minor oil leakage in the flowline was detected. Retrieval and replacement of the flowline is underway. Production is expected to be restarted in mid-July based on current estimated delivery of equipment/material and dependent upon weather conditions during installation operations.


MOL is the Operator and holds a 100 per cent interest in Block 50 Oman.


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