Offshore staff
SINGAPORE – Masirah Oil should start drilling the Yumna 2 well on block 50 offshore Oman early next year, according to majority owner Rex International Holding.
Rex executive chairman Dan Brostrom said the company also planned to drill an exploratory well on another prospect on the concession during 2021.
“The Yumna 1 production facilities are now permanent, with operating costs of about $80,000/d… We are going into the rest of 2020 with improved contributing factors, with Brent oil price at a more stable a range of about $45/bbl.
“We remain in a good financial position and will now book recurrent income from production in the Yumna field in Oman.”
Last month the Ministry of Oil and Gas in Oman approved the development plan for the Yumna field and awarded a declaration of commerciality, enabling Masirah to proceed with the full-field development.
At the time the Yumna 1 well had produced more than 1 MMbbl of oil and is currently delivering over 8,000 b/d through a 1-in. choke with 440 psig flowing tubing-head pressure.
08/14/2020
