Masirah secures funds for offshore Oman exploration program

Rex Oman, a subsidiary of Rex International Holding, has paid $4.3 million for further shares in Masirah Oil.

Offshore staff

SINGAPORERex Oman, a subsidiary of Rex International Holding, has paid $4.3 million for further shares in Masirah Oil.

The capital injection will help fund drilling of Masirah’sKaramah#1 exploration well in block 50 offshore Oman and its continued operations in the country.

Masirah has a 100% operated stake in the 17,000-sq km (6,546-sq mi) block. In early 2014, the company discovered the first new oilfield east of Oman following 30 years of exploration activity in the area.

08/04/2017

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