Rex makes contingency plans for offshore Oman appraisal well

Rex International subsidiary Masirah Oil continues to work on a development program for the GA South#1 discovery in block 50 offshore Oman.

Offshore staff

SINGAPORE – Rex International subsidiary Masirah Oil continues to work on a development program for the GA South#1 discovery in block 50 offshore Oman, and this work will continue until 1Q 2018.

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.

12/07/2017

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