Masirah Oil Limited (MOL), which operates Block 50 off Oman’s east coast, says it has completed the upgrade of its Mobile Offshore Production Unit (MOPU) to 30,000 barrels per day.
The unit processes all of the hydrocarbon output from the Yumna Field where a third production well was drilled last month.
The upgrade has more than doubled the liquid handling capacity of the Mobile Offshore Production Unit.
Following the upgrade, the Yumna Field has been tested steadily over the last week at rates of 20,000 barrels of oil per day.
The production rate will be regularly optimised and has now been choked back in accordance with the reservoir management plan, aimed at maximising recovery from the field, according to Singapore-based Rex International, the majority shareholder in Masirah Oil.
Dan Broström, Executive Chairman of Rex, said, “We are pleased to start production from all three Yumna production wells earlier than expected. We now have upgraded facilities with ramped up liquid handling capacity and optimised production cost of $80,000 per day for the three Yumna production wells.
The recent run-up of Brent oil prices, if sustained, would be beneficial to our sales revenue.”
Last July, Oman’s Ministry of Energy and Minerals approved Masirah Oil’s Field Development Plan for the Yumna Field. It came on the heels of the company’s Declaration of Commerciality, signalling its intent to fully develop the Yumna reservoir, as well as explore for hydrocarbons elsewhere in the Block.
Masirah Oil Limited is majority owned by Rex’s local subsidiary Rex Oman Ltd (86.37 per cent) with minority stakes also held by Petroci, the National Oil Company of the Ivory Coast, and Schroder & Co Banque SA.
Masirah Oil is also the operator of Block 50, which is the first offshore producing block off the Sultanate’s east coast.
The unit processes all of the hydrocarbon output from the Yumna Field where a third production well was drilled last month.
The upgrade has more than doubled the liquid handling capacity of the Mobile Offshore Production Unit.
Following the upgrade, the Yumna Field has been tested steadily over the last week at rates of 20,000 barrels of oil per day.
The production rate will be regularly optimised and has now been choked back in accordance with the reservoir management plan, aimed at maximising recovery from the field, according to Singapore-based Rex International, the majority shareholder in Masirah Oil.
Dan Broström, Executive Chairman of Rex, said, “We are pleased to start production from all three Yumna production wells earlier than expected. We now have upgraded facilities with ramped up liquid handling capacity and optimised production cost of $80,000 per day for the three Yumna production wells.
The recent run-up of Brent oil prices, if sustained, would be beneficial to our sales revenue.”
Last July, Oman’s Ministry of Energy and Minerals approved Masirah Oil’s Field Development Plan for the Yumna Field. It came on the heels of the company’s Declaration of Commerciality, signalling its intent to fully develop the Yumna reservoir, as well as explore for hydrocarbons elsewhere in the Block.
Masirah Oil Limited is majority owned by Rex’s local subsidiary Rex Oman Ltd (86.37 per cent) with minority stakes also held by Petroci, the National Oil Company of the Ivory Coast, and Schroder & Co Banque SA.
Masirah Oil is also the operator of Block 50, which is the first offshore producing block off the Sultanate’s east coast.
Source Link: www.omanobserver.om
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