Masirah hires Foresight rig for Oman well

  • Business & Finance

Exploration and production company Masirah Oil has awarded a drilling rig contract to Foresight Offshore Drilling to use one of its jack-up rigs for an appraisal well in Block 50 in Oman.

Foresight Driller IX jack-up rig; Source: Foresight Offshore Drilling

Masirah said on Tuesday that it would use the Foresight Driller IX drilling rig for the appraisal well. The Foresight Driller IX is of a Letourneau Marathon 116c design built in 1983 by Jurong Singapore.

The drilling rig contract will be effective for a minimum period of 30 days and is expected to start in December 2019. Masirah Oil has an option to retain the rig for extended well testing and to drill additional wells.

The appraisal well will be drilled to determine the potential of the Yumna field. Masirah Oil holds a 100 per cent interest in Block 50 Oman. Rex International Holding holds an effective interest of 92.65 per cent in Masirah Oil through its indirect wholly-owned subsidiary, Rex Oman Ltd.

Petroci, the National Oil Company of the Ivory Coast, and Schroder & Co Banque hold shareholding interests of 2.35 percent and 5 percent in Masirah Oil, respectively. The Yumna field was previously known as the GA South field.


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