Masirah Oil

What Masirah Oil does

Masirah Oil Limited is a privately-held upstream oil and gas exploration and production company headquartered in Muscat, Sultanate of Oman. The company holds 100% interest in and operates the Block 50 concession, an approximately 17,000 sq km offshore area located in the Gulf of Masirah, east of Oman. Its sole producing asset is the Yumna Field, which achieved first oil in February 2020, with Field Development Plan approval and Declaration of Commerciality granted in July 2020. Cumulative production from the field reached 7.1 MMstb by 31 December 2022.

The company's business is concentrated on a single asset and a single product — crude oil produced from the Yumna Field. Operations are conducted using offshore jackup drilling infrastructure, with the most recent activity centered on a three-well development drilling campaign designed to reverse steep production decline (from 2,333 stb/d in January 2025 to 742 stb/d in March 2026). The drilling program is being executed using the Energy Emerger jack-up rig operated by Northern Offshore Drilling Operations. Crude oil is sold directly to downstream refineries and energy trading companies through bilateral commercial arrangements at prevailing market prices.

Masirah Oil is an indirect subsidiary of Jasmine Energy Ltd (JEL), which in turn is an indirect subsidiary of Singapore-based Rex International Holding. JEL holds 87.5% indirect ownership and raised $25 million in senior secured bonds (14% coupon, three-year tenor) in December 2025 to fund the drilling campaign. The company is led by interim CEO Per Lind. Beyond the Yumna Field, Masirah Oil is exploring further opportunities within the broader Block 50 concession, having engaged Gneiss Energy to identify exploration prospects and a potential farm-in partner.

Name

Masirah Oil

Legal name

Masirah Oil Limited

Website

https://masirahoil.com

Company type

Private

Founded year

2014

Operating status

Operating

Short description

Masirah Oil Limited is a private Oman-based upstream oil and gas producer holding 100% interest in the ~17,000 sq km offshore Block 50 concession, producing crude oil solely from the Yumna Field and selling directly to refineries and traders at market prices.

Ownership category

akta.pro rank

Product category

Upstream Oil and Gas Production

NAICS

Crude Petroleum Extraction (21112)

SIC

Crude Petroleum & Natural Gas (1311)

akta.pro primary industry

Hydroskimming Refineries (Topping & Simple Refineries) (EUALAGAA)

akta.pro secondary industry

Hydrotreating, Hydroprocessing & Desulfurization (HDS/HDT) (EUALAGAE)

Keywords

• Offshore oil production
• Crude oil exploration
• Upstream oil and gas
• Oil field development
• Offshore drilling operations

Headquarters

HQ city

Muscat

HQ country

Oman

HQ region

Middle East

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Infrastructure, Personnel, Technology or R&D, Supply Chain, Others

Revenue model

1. Crude Oil Sales: Revenue generated from the production and sale of crude oil from the Yumna Field. Production volumes have declined from 2,333 stb/d in January 2025 to approximately 742 stb/d in March 2026, prompting a three-well drilling campaign to reverse the decline and increase oil flow rates.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels3 records

Core offering

Masirah Oil Limited is an upstream oil and gas exploration and production company that holds 100% interest and operatorship of Block 50 Oman, an approximately 17,000 sq km offshore concession located in the Gulf of Masirah, east of Oman. The company's sole commercial offering is the production and sale of crude oil from the Yumna Field, which achieved first oil in February 2020 and produced 7.1 MMstb cumulatively through end-2022. Current production averages approximately 742 stb/d (March 2026), with an ongoing three-well development drilling campaign aimed at reversing field decline.

Product overview

Masirah Oil is an oil and gas exploration and production company that operates as a single-asset producer. The company holds 100% interest in Block 50 Oman, an approximately 17,000 sq km offshore concession located in the Gulf of Masirah, east of Oman. Its primary and only product offering is crude oil production from the Yumna Field, which achieved first oil in February 2020. There are no separate product modules, add-ons, or additional named offerings—the company's business is focused exclusively on producing oil from this offshore concession.

Differentiator

Problem solved

Functional benefit

Products and services

• Crude Oil Production from the Yumna Field (Block 50 Oman)

Quantifiable outcome

• Production decline reversed from 2,333 stb/d (January 2025) to stabilized levels through drilling program
• +1 more outcomes

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Two partnerships are on record, tiered core and supporting.

• Northern Offshore Drilling Operations LtdcoreTechnology or Integration · 6 April 2026Northern Offshore Drilling Operations Ltd operates the Energy Emerger jack-up drilling rig, which has been hired for the three-well development drilling campaign at the Yumna Field in Block 50, Oman.
• Gneiss EnergysupportingStrategic or Co-development PartnerUK-based consulting firm engaged by Masirah Oil to identify potential exploration locations and a farm-in partner for the Block 50 license.

Scale indicators7 records

Recent moves5 records

Expansion highlights2 records

Direct peers

• CC Energy Development (CCED): Oman-focused E&P operating onshore Blocks 3 and 4 under similar PSC terms. Closest direct peer by country, asset profile, and company size.
• Tethys Oil AB: Sweden-listed small-cap E&P with interests in Oman Blocks 49 and 56. Comparable size, same jurisdiction, similar upstream single-region focus.
• DNO ASA: Norwegian small-to-mid E&P with Middle East exposure (Kurdistan, Yemen). Comparable operating model and scale, with similar single-region / single-asset profiles.
• Genel Energy plc: UK-listed small E&P focused on Kurdistan/Iraq. Similar small-cap, single-region production profile and Middle East operational exposure.
• EnQuest PLC: UK-listed small E&P focused on North Sea assets. Comparable small-cap production profile and capital-intensive offshore operating model.
• Gulf Keystone Petroleum: UK-listed small E&P with Kurdistan-focused operations. Similar small-cap upstream profile and concentrated single-region asset base.
• Medco Energi Internasional: Indonesia-listed diversified E&P with Middle East and SE Asia assets. Comparable small-to-mid cap scale and offshore operating experience.

Broad incumbents

• OQ Exploration & Production: National oil company of Oman's upstream arm. Operates broadly across the country under the same concession regime as Masirah Oil, but at materially larger scale and with a full portfolio.
• Petroleum Development Oman (PDO): Dominant E&P operator in Oman (Shell/Total/OQ JV). Major incumbent covering the majority of Oman's reserves, included for jurisdictional comparability rather than direct competition.

Others

• Rex International Holding: Singapore-listed ultimate parent of Masirah Oil, also holding offshore Norway and other Omani operations. Included for structural linkage to Masirah rather than direct competition.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat3 records

Key risks7 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/masirah-oil-company

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Masirah Oil