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Masirah Oil

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Masirah Oil Ltd
Coral Building, 3rd Floor (3D)
Bldg. No. 3235
Way No. 3341 Dawhat Al Adab Street
Al Khuwair

P.O. Box 1552
Postal Code 130
Azaiba, Muscat
Sultanate of Oman

Tel: +968 24 955900
admin@masirahoil.com

Description

Masirah Oil Ltd (“MOL”) holds 100 per cent of the Block 50 Oman, an approximately 17,000 sq km offshore concession located in Gulf of Masirah, east of Oman. First oil was achieved in Block 50 in February 2020 and the approval of Field Development Plan for the Yumna Field and the award of Declaration of Commerciality ("DOC") were obtained on 12 July 2020. The DOC will enable MOL to fully develop the Yumna Field while continuing to explore the rest of Block 50 Oman.

MOL is a subsidiary of Rex International Holding Ltd (“Rex”), which holds an effective interest of 86.37 per cent through its indirect wholly-owned subsidiary Rex Oman Ltd. Other shareholders of MOL include Schroder & Co Banque S.A. at 8.82 per cent and PETROCI, the national oil company of Cote D’Ivoire, at 1.83 percent.

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