Masirah Oil Limited (MOL), an indirect subsidiary of Rex International from Singapore, has commenced drilling operations at the first well of its onshore drilling campaign in Block 50 located off the coast of Oman. This move allows the company to prepare for its first oil production in November 2026.
Drilling Details and Contracts
Masirah Oil has announced that work on the first well in the Yemen field drilling campaign has begun. Arabian Drilling signed a contract with Masirah Oil and Northern Offshore in August 2026 to drill two firm wells and two optional wells in Oman. Mike Hopkinson, Managing Director of Masirah Oil, stated: "We expect production from the new well to begin in November 2026."
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The Yemen Field and Production History
The Yemen field is located in Block 50, which is a marine concession covering approximately 17,000 square kilometers in the Masirah Gulf, east of Oman. The first oil production from this field began in February 2020. The subsidiary of Rex, MOL, is the exclusive owner of the Block 50 concession, and after restructuring, 87.5% of its shares belong to Jasmine Energy Limited (JEL).
The development plan approval and declaration of commerciality (DOC) for the Yemen field was received in July 2020. The Yemen-2 well was commissioned in January 2021, and production from the Yemen-3 well began in February 2021. The following year, the floating storage tanker was replaced to allow this tanker to remain in the field for several years without the need for dry-docking. The Mobile Offshore Production Unit (MOPU) was also replaced with updated facilities in the same year.
The drilling campaign in the fourth quarter of 2022, which included work on the Yemen-3 well to replace the electric submersible pump and drilling the Yemen-4 well, was completed in early 2023. MOL completed its multi-well program in 2024 in Block 50, which included drilling the Yemen-5 well, with production starting in April 2024, and work was done on three existing production wells, one more than initially planned.
Masirah Oil emphasizes that the production rate is regularly optimized to ensure maximum recovery from the field, create sustainable long-term production, and significantly increase oil reserves in this block.
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