3 New Producer Wells to Boost Masirah Oil Production: What This Means for Investment Opportunities in Oman’s Energy Sector
Masirah Oil Limited, an Oman-based upstream energy firm operating Block 50 off Oman’s east coast, is set to drill three new producer wells in 2026 to boost output from its flagship Yumna Field.
To finance this drilling program, Rex International Holding, Masirah Oil’s majority shareholder, has secured $25 million through a three-year senior secured bond issuance via its financing arm, Jasmine Energy Limited. Per Lind, Acting CEO of Singapore-headquartered Rex International, stated that the bond proceeds will primarily fund Masirah Oil’s 2026 drilling campaign.
“The timely completion of this bond issue enables us to proceed with drilling new producer wells in the Yumna Field, starting in the first quarter of 2026, to increase oil flow rates in Block 50, Oman,” Lind explained. He added that strong support from bondholders reflects confidence in their proven ability to enhance reserves in the mature Yumna Field. With the additional production capacity, the company aims to extend the field’s operational life and deliver sustained value to stakeholders.
Since its first oil production in 2020, the Yumna Field has yielded 9.07 million stock tank barrels by the end of December 2024. Recent projects include drilling the Yumna-5 well, conducting workovers on existing wells, and upgrading infrastructure such as installing a second flowline between the Mobile Offshore Production Unit (MOPU) and the Floating Storage Offloading (FSO) unit to improve reliability and fluid handling efficiency. Throughout 2024 and 2025, daily production has ranged from 1,200 to 2,300 barrels, with fluctuations linked to scheduled maintenance and tanker replacement. Notably, production stabilized around 1,287 barrels per day in October 2025 after well interventions and the commissioning of the new flowline.
An independent reserves review has upgraded the Yumna Field’s 2P (proven and probable) and 3P (proven, probable, and possible) reserves, reflecting enhanced depletion planning and the potential for further wells. These positive developments affirm the ongoing commercial viability of the Yumna Field and highlight promising growth opportunities for Block 50.
Special Analysis by Omanet | Navigate Oman’s Market
Masirah Oil’s planned drilling of three new wells in 2026, supported by a $25 million bond raise, signals renewed confidence in extending the life and output of mature fields like Yumna, presenting a growth opportunity for local and regional energy investors. For businesses in Oman, this development underscores the importance of investing in enhanced oil recovery and infrastructure upgrades to sustain production amid natural decline. Smart investors should consider capitalizing on the stabilized production trends and reserve upgrades as a strategic entry point into Oman’s upstream sector.
