A three-well exploration campaign at the Yumna field offshore Oman has been completed with the operator looking on the bright side.

All three wells in Block 50 were technically successful but were not commercial.

Looking on the bright side, the operator Masirah Oil reported the exploration wells were drilled for about US$3.5 million each, equivalent to less than US$1700 per metre, according to Rex International, Masirah's owner.

The results of the three wells confirmed the extents of the good quality Lower Aruma sandstone and would help refine Masirah's understanding of the trap mechanisms in the area, said Rex.

Dan Brostrom, executive chairman of Rex, said: “We will now study the well results in detail to prepare for the next exploration drilling, so that we can unlock the potential that we are confident the 17,000-square-kilometre block holds. Now that the production facilities have been upgraded, we will continue to concentrate on our sustained production from the Yumna field."

"In 2020, gross production was approximately 2.12 million barrels from one well. With three producing wells and upgraded infrastructure, we hope to produce substantially more in 2021.”

Masirah holds a 100% operator interest in Block 50 offshore Oman.

Exploration

Three offshore exploration wells completed in Oman