Masirah funded for next-phase wells offshore Oman

Following a bonds placement, Masirah Oil can proceed with a new multi-well campaign to boost oil production from the Yumna Field in offshore Block 50.

Related To:

Masirah Oil

Dec. 10, 2025

Block 50 operations offshore Oman — Masirah Oil achieved first oil in the Yumna Field in February 2020.

Rex International Holding subsidiary Jasmine Energy has raised $25 million in senior secured bonds, which it will use to support a planned development drilling campaign offshore Oman.

The program, operated by Masirah Oil (in which Jasmine has an 87.5% interest), involves drilling new producer wells to increase oil flow rates from the Yumna Field in Block 50, and it is set to start in first-quarter 2026.

Masirah Oil holds 100% of the 17,000-sq-km concession in the Gulf of Masirah, east of Oman.