More than 150 MMbbl in prospect close to Yumna offshore Oman

Offshore staff

SINGAPORE – Rex International Holding has issued the findings of a report by RPS Energy Consultants on block 50 offshore Oman.

This estimates 2P reserves at the producing Yumna field at 9.6 MMbbl as of July 1, 2020.

Surrounding areas, however, could contain more than 152 MMbbl in 14 further prospects identified by a 1,500-sq km (579-sq mi) 3D seismic survey over the area around Yumna.

In February 2012, a report by Aker Geo and Pareto Asia over the entire block had calculated gross unrisked prospective resources at more than 4 Bbbl.

Rex’s 86.37%-owned subsidiary, Masirah Oil operates block 50 with a 100% interest.

Dan Broström, Rex’s executive chairman, said: “The Yumna field is only a small part of the entire block 50 concession, which is about 17,000 sq km [6,564 sq mi]… the license’s full potential, including in the sub-Melange area outside of the Yumna field, has not been evaluated in this [RPS] report.

“For economies of scale, our short-term focus would be to drill the Yumna 2 production well and most likely the Yumna 3 well near the current producing Yumna 1 well and select the location of the next exploration well to be drilled in 2021, from the 14 identified prospects near the Yumna field.

“If successful, another discovery will enable us to develop the prospective resources into reserves.”

10/28/2020