Masar Petroleum announces major discovery in Block 7

BUSINESS REPORTER

MUSCAT, APRIL 13

Masar Petroleum SAOC, a leading Omani oil and gas exploration and production company, has announced a landmark discovery in the Hasirah Ridge in Block 7 onshore Oman, marking a defining milestone in the company’s growth trajectory.

Masar Petroleum first made history in 2017 as the inaugural operator to successfully appraise and produce from the Hasirah reservoir in Block 7.

Building on this experience, 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 5 km wide and 30 km long mapped across Block 7 using 2D seismic data. This discovery represents the critical first step towards unlocking the Ridge’s prospective resource base of 100 to 380 million barrels.

Following from this discovery, a planned 3D seismic survey and exploration and appraisal programme is expected to advance the development of the new resources by year end 2028.

First production from this field is expected to come on stream during the last quarter of the year. With its sights firmly set on accelerated growth, Masar Petroleum plans to rapidly advance appraisal and development opportunities across Block 7.

“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 al Murshidi, Chief Executive Officer of Masar Petroleum.