Operator of offshore Block 50 Masirah Oil Ltd says it is pressing ahead with a strategy to ramp up output from the field during 2023.
Block 50, covering an area of approximately 17,000 sq km, located in Oman’s Gulf of Masirah, is 100 per cent owned by Masirah Oil Limited.
Buoying hopes for an uptick in production from the Yumna field, Masirah Oil undertook several initiatives last year aimed at unlocking the field’s hydrocarbon potential.
These included a major change-out and upgrade of production facilities at the Yumna field. It also included the replacement of the previous floating storage tanker and a change-out of the Mobile Offshore Production Unit (MOPU) to handle increased liquid production and allow these production facilities to serve until the field’s end of life.
In 2023, Masirah Oil plans to undertake a block wide review of exploration opportunities. Based on the results of the review, planning of the acquisition of additional targeted seismic will be implemented, majority shareholder Rex International noted in its 2022 Annual Report.
Production from the field since Declaration of Commerciality in July 2020 has totalled 7.1 million stock tank barrels (MMstb) of oil. Produced oil is sold to an off-taker that handles the ship-to-ship liftings of oil, according to Rex International.
