Lime Petroleum has announced that it has began drilling an oil exploration well in Block 50 offshore Oman
The well Masirah North North#1 (MNN#1), about 1,000 metres in depth, is located in the northern area of the Block 50 Oman concession and is about 17,000 sq km in size, the Rex International entity said.
The well is being currently drilled using the independent leg cantilever jack-up drilling rig Aban VII.
Part of a two-well drilling programme in the concession, the initial focus will be MMN#1 and Masirah North East#1 (MNE#1), which have been estimated to hold prospective resources of about 160mn barrels.
The prospect was selected after in-depth technical evaluation and verification using the Rex Virtual Drilling technology, in addition to confirmations provided via conventional methodologies, the company added.
Lime Petroleum is a jointly-owned company between Rex International, Hibiscus Petroleum and Schroders. Lime Petroleum, through Masirah Oil, has a 64 per cent participating interest in the Block 50, while Petroci Holding has the remaining 36 per cent participating interest.
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