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Oman's Ministry of Oil & Gas Extends Masirah Oil's Block 50 License to 2020

Singapore-listed Rex International Holding Ltd. reported Monday that Oman's Ministry of Oil & Gas (MOG) has extended the exploration and production sharing agreement (EPSA) with its subsidiary Masirah Oil Ltd. for Block 50 for another 3 years from the end of the current phase to March 2020.

Masirah Oil is finalizing plans to drill another exploration well in Block 50 in early 2017 and this will be the first well to use the new multi-attribute version of Rex Virtual Drilling (RVD), which enables the company to be independent from traditional geological inputs on porosity and permeability.

Source Link: www.rigzone.com

  • Oman
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