Masirah Oil Announces Upgrade of Yumna Field Process Facilities

Rex International subsidiary Masirah Oil has announced completion of the upgrade to the Yumna field process facilities, which has more than doubled the liquid handling capacity on the Mobile Offshore Production Unit (MOPU) to 30,000 barrels per day.

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.

Mr 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 US$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.'

Masira Oil holds a 100 per cent interest in Block 50 Oman and is the operator.