Singapore’s Rex International Holding Reveals Updated Independent Summary Qualified Person’s Report for Oman Field

Singapore’s Rex International Holding Limited has recently unveiled the results of an updated independent summary qualified person’s report (QPR) for its field offshore Oman.

The report focuses on the Yumna field located in Block 50 off the coast of Oman and has been prepared by Exceed Torridon as part of Rex’s obligations to disclose its reserves and resources.

It provides an updated assessment of the field’s reserves and resources, incorporating new development options and production forecasts as of December 31, 2024.

Key Findings

The updated model in the independent summary QPR now includes additional development wells to enhance the field’s drainage efficiency. Rex’s subsidiary, Masirah Oil Limited, holds the Block 50 concession and has seen a significant increase in net entitlement volumes in both base 2P and high 3P reserves.

The Yumna field currently operates five wells, with production processed at a mobile offshore production unit (MOPU). As of December 31, 2024, the field had produced approximately 9 million stock tank barrels (MMstb) with ongoing efforts to optimize production rates.

Development and Achievements

Block 50 is an offshore concession spanning 17,000 square kilometers in the Gulf of Masirah, east of Oman. It commenced production in February 2020, with the field development plan for the Yumna Field and declaration of commerciality (DOC) approved in July 2020.

In June 2024, Masirah concluded a successful multi-well drilling program at the Yumna field, utilizing Northern Offshore’s Energy Emerger jack-up rig for various operations.

Future Plans

Looking ahead, Masirah Oil Limited intends to further optimize production facilities and well operations. Plans include the installation of a second flowline to enhance production system reliability and the initiation of a farm-out exercise in collaboration with Gneiss.

With ongoing efforts to maximize recovery and streamline operations, Rex International Holding and its subsidiary are poised for continued success in the Oman offshore field.