SINGAPORE - Oman authorities have approved oilfield services firm Rex International's plan to develop the Yunma field, which is part of its Block 50 licence.
Rex said the Yunma 1 well has produced more than one million barrels of oil so far, and is producing over 8,000 barrels of oil per day. The first three cargoes of Masirah crude were lifted and sold in April, May and June this year. Rex said its 2019 Shrek discovery, under the PL838 licence, is a prime candidate for such tax benefits, with possible production start-up by end-2024.
Source: News Formal (newsformal.com)
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