EGYPT SUDAN SAUDI ARABIA IRAN OMAN YEMEN SOMALIA ETHIOPIA 100 km N OMAN DUQM MUSCAT BLOCK 50 capacity to produce 1.0 to 1.5 metric tonnes per annum (mtpa) by 2030. Eight projects in Duqm and Dhofar have been awarded under round 1 and 2 of its green hydrogen auctions, with a third round currently underway. These initiatives support its ambition to become a global leader in clean hydrogen production and exports, particularly to Europe and Asia. Looking further ahead, Oman’s National Energy Strategy identifies carbon capture and storage (CCS) as an essential pathway to achieving net-zero emissions by 2050. Together, these measures highlight Oman’s dual focus on safeguarding its hydrocarbon revenues while accelerating the clean energy transition4. Block 50 Oman Block 50 is an offshore concession, approximately 17,000 sq km, located in Gulf of Masirah, east of Oman. Masirah Oil Ltd (“MOL”) holds 100 per cent of the Block 50 Oman concession. Rex International Holding holds an effective indirect interest of 87.5 per cent in MOL. 2025 OPERATIONS UPDATE • Issued two summary Qualified Person’s Reports (QPR) for the Yumna Field in Block 50 Oman. • Reprocessed 3D seismic data over the Yumna Field. • Installed a second flowline connecting the Mobile Offshore Production Unit (MOPU) to the Floating Storage and Offloading (FSO) unit, to increase reliability of the production system. • Changed out the FSO. • Conducted a farm-out exercise with consultants Gneiss. • Jasmine Energy Ltd, of which MOL is an 87.5 per cent subsidiary, raised US$25 million in senior secured bonds with a three-year tenor to fund a drilling campaign of three wells in 2026 and for MOL’s general corporate purposes. GOING FORWARD • The Energy Emerger jack up drilling rig has been contracted to drill three development wells in the Yumna Field in 1H 2026. • Continue to optimise the production facilities and well operations. • Evaluate exploration prospects in Block 50. 4 Energy Industries Council, Oman – EIC Country Report, September 2025 22 Annual Report 2025
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