Masar Petroleum makes new Oman discovery

Masar Petroleum SAOC, a leading Omani oil and gas exploration and production company, has announced a major discovery in the Hasirah Ridge in Block 7, Sultanate of Oman

The Block 7 concession area spans approximately 2,300sq km in Al Wusta Governorate, central Oman and is operated by Masar Petroleum, which holds a 100% stake. The company started producing from the Hasirah reservoir in 2017.

Masar Petroleum has now successfully drilled a new exploration well south of its existing discoveries, validating the concept of the Hasirah Ridge, a geological trend 5km wide and 30 km long mapped across Block 7 using 2D seismic data. This discovery represents the critical first step toward unlocking the Ridge’s prospective resource base of 100 to 380 million barrels.

A 3D seismic survey and exploration and appraisal program is now going to be conducted, to advance the development of the new resources by the end of 2028.

First production from this field is expected to be on stream during the last quarter of the year. Masar Petroleum plans to rapidly advance appraisal and development opportunities across Block 7, with a view to accelerated growth.

“Masar is a proud Omani E&P company that has delivered significant value through a continuous and focused effort on unlocking our potential,” said Abdulsattar AlMurshidi, chief executive officer of Masar Petroleum.