Masirah Oil Limited (“Masirah”) has announced the drilling of exploration well Karamah#1 in Block 50 Oman.
The prospect Karamah is targeted for a depth of about 3 km, and is located on a structural closure approximately 13 km away from the earlier GAS-1 discovery well at a water depth of 23m. The well’s objective is to explore multiple target horizons of the Early Tertiary and Late Cretaceous formations.
The well’s location was selected by integrating mainly the geological understanding and the proprietary multi-attribute Rex Virtual Drilling technology.
The well is being drilled using the independent leg cantilever jack-up drilling rig Aban VII which was also used in earlier Masirah drilling campaigns.
The shareholders of Masirah are Rex Oman Ltd at 85.15 per cent, Schroder & Co Banque S.A. at 5.00 per cent, Lime Petroleum Plc with effective shareholding at 1.45 per cent and Petroci Holdings at 8.39 per cent.