If the evaluation is positive, an appraisal well will likely follow before the end of 2018, and is this is successful, Masirah will aim to start production from GA South#1 as soon as practically possible.
To reduce its exposure risks and to attract financing for drilling of the well, Rex is negotiating a partial farm-out of Masirah’s 100% interest in the 16,000-sq km-plus (6,177-sq mi) concession.
In February 2012, Aker Geo and Pareto Asia estimated the block’s prospective resources at around 4,700 MMboe.
Offshore Norway, Rex subsidiary Lime Petroleum is a partner in the Edvard Grieg South(Rolvsnes) discovery in license PL338C in the Norwegian North Sea.
Operator Lundin Norway expects to drill an appraisal well by mid-2018 to better understand the reservoir.
If drillstem tests are positive, the well will be tied back to the Edvard Grieg platform for test production in 2020.