Page 10 - MEOG Week 14 2021

MEOG PROJECTS & COMPANIES MEOG

Masirah completes

Oman drilling campaign

OMAN MASIRAH Oil has announced this week that extent of the good-quality Lower Aruma sand-
it has completed its five-well drilling campaign stone and will help refine [Masirah’s] under-
around the Yumna field in Oman’s offshore Block standing of the trap mechanisms in the area.”
50. The programme comprised two development It added that “major cost savings were
wells and three exploration wells. achieved by drilling five wells in one campaign.
The 16,903-square km concession was the The exploration wells were drilled for about
location of the GA South (GAS) discovery, $3.5mn each, equivalent to less than $1,700 per
Oman’s first offshore find by Singapore-backed metre. Cost-effective drilling will greatly help
Rex International Holding (RIH), which holds [Masirah] to further de-risk additional explora-
86.37% of the Masirah, which in turn holds 100% tion prospects.”
of Block 50. The company added that this would enable it
GAS was renamed Yumna last year after to continue pursuing “an active exploration pro-
Oman’s Ministry of Energy and Minerals (MEM) gramme in Block 50”.
declared the field’s commerciality and approved It has also upgraded the capacity of its pro-
Masirah’s development plan for the asset. duction facilities to 30,000 barrels per day (bpd)
Yumna is thought to contain around 9.6mn to cater to growing output from its three Yumna
stock tank barrels of proven plus probable (2P) production wells after successfully drilling two
reserves, according to a qualified person’s report development wells.
(QPR). It said: “The three wells were tested steadily
However, Rex has previously said that the over a week at rates of 20,000 [bpd] in March
QPR covered only 9% of Block 50, for which 2021 and the production rate has since then
Aker Geo and Pareto in 2012 estimated best been optimised in accordance with the reservoir
estimate gross unrisked prospective resources at management plan, aimed at maximising recov-
more than 4bn barrels. ery from the Yumna field.”
Discussing the results of the drilling cam- Rex’s executive chairman Dan Broström
paign it said that the Zakhera prospect, 11 km said: “Now that the production facilities have
to the south of Yumna, had good oil shows but been upgraded, we will continue to concentrate
poor sand quality. on our sustained production from the Yumna
At Yumna East, 3 km east of the main asset, Field. In 2020, gross production was approxi-
good-quality sands were encountered in the tar- mately 2.12mn barrels from one well. With three
get reservoir, but it was water-filled. This was also producing wells and upgraded infrastructure,
the case at Yumna North, 6 km north of Yumna. we hope to produce substantially more in 2021.
Despite these exploration disappointments, We aim to announce production achieved on a
the company said: “The results confirmed the monthly basis going forward.”™

P10 www. NEWSBASE .com Week 14 07•April•2021