A drilling campaign, which Jasmine Energy (JEL), a subsidiary of Singapore’s Rex International, is planning to embark on off the coast of Oman, has been moved to the second quarter of 2026.
After Jasmine Energy raised $25 million in senior secured bonds with a three-year tenor, which will be used to fund a three-well development drilling campaign at the Yumna field in Block 50 and for general corporate purposes by Masirah Oil Limited (MOL) , an indirect 87.5% subsidiary of JEL, the drilling program was anticipated to begin in the first quarter of 2026.
However, Masirah Oil has now disclosed that the multi-well drilling activities at the Yumna field are now expected to start in May 2026. Block 50 is an approximately 17,000 square-kilometer offshore concession in the Gulf of Masirah, east of Oman.
MOL is the operator and holds a 100% interest in Block 50. The first oil at the field was achieved in February 2020. The 2017-built Energy Emerger jack-up drilling rig, operated by Northern Offshore Drilling Operations, was hired to conduct the drilling assignment.