Rex outlines plans for offshore Malaysia, Oman oilfields
Jan. 13, 2022
Rex International Holding plans to focus on the pre-development phase of two recently awarded oilfield clusters offshore Malaysia over the next two years.
Offshore staff
SINGAPORE – Rex International Holding plans to focus on the pre-development phase of two recently awarded oilfield clusters offshore Malaysia over the next two years.
The company secured a 95% operated interest in two production sharing contracts for the development and production of the Rhu-Ara and Diwangsa clusters off Peninsular Malaysia.
Collectively these contain six oilfield discoveries. The new PSC terms under Malaysia’s Small Fields Assets arrangement include a pre-development phase of up to two years followed by a two-year development and 10-year production period.
Elsewhere, Rex is involved in oil production in block 50 offshore Oman via Masirah Oil. Last year Masira completed 12 liftings of oil from the Yumna field and drilled three exploration wells.
These confirmed the extents of the good-quality Lower Aruma sandstone, Rex said, and the results should assist understanding of the trap mechanisms in the area and future development of Yumna.
