Masirah Oil Limited (MOL) said its parent company, Rex Oman Ltd., has entered into a contract for the Energy Emerger jack-up drilling rig, operated by Northern Offshore Drilling Operations Ltd., for a multi-well programme in Oman.

The rig will be deployed to drill three new development wells in the offshore Yumna Field, located in Block 50, Oman. MOL said the programme is scheduled to commence in March 2026.

MOL noted that Energy Emerger was also used during its 2024 drilling campaign. The company said the programme is intended to increase oil production rates and extend the productive lifespan of the Yumna Field.

On ownership, MOL said it is an indirect 87.5% subsidiary of Jasmine Energy Limited (JEL) and holds a 100% operating interest in Block 50, Oman. MOL also stated that funding and rig arrangements are confirmed.

“With funding and the rig now in place, we are focused on executing this drilling programme seamlessly to drill new producer wells to increase oil flow rates and extend the lifespan of the Yumna Field in Block 50 Oman,” said Mr. Mike Hopkinson, General Manager of MOL.