Masirah Oil Limited (“MOL”) announced the spudding of the Yumna-5 well in the offshore Yumna Field in Block 50 Oman. The Yumna-5 well will be drilled at the crest of the structure to drain attic oil left un-swept by the current producers, according to the company's release.
The drilling of the Yumna-5 well by the Energy Emerger jack-up drilling rig is part of a multi-well programme, which also includes the work-over of two existing production wells, Yumna-2 and Yumna-3.
MOL will update the market upon the completion of the of the drilling campaign, which will take about 90 days. MOL is the Operator and holds a 100 per cent interest in Block 50 Oman.”
Rex International Holding Limited is a multinational oil exploration and production (“E&P”) company listed on Singapore Exchange Securities Trading Limited’s Mainboard. The Group has interests in exploration and production licences in Norway, Oman and Benin, and holds operatorship for the assets in Oman and Benin. The Group de-risks its portfolio of exploration and development assets using its proprietary liquid hydrocarbon indicator Rex Virtual Drilling technology, which can identify liquids in the sub-surface using seismic data.