ABOUT THE YUMNA FIELD Block 50 Oman is one of the first concessions secured by the founders of Rex International Holding before the Company’s IPO. The Company’s founders were involved in Lundin Petroleum’s (then known as International Petroleum Corporation (IPC)) commercial oil discovery in the Bukha field, offshore Oman in 1986. On 4 February 2014, an oil discovery was announced in Block 50 Oman. The second exploration well that was drilled in the concession had successfully reached the well target depth of more than 3,000 metres into the Cambrian formation. Hydrocarbons were discovered in several formations with good oil sample extracted. The oil discovery is significant as it is the first offshore discovery east of Oman, after 30 years of exploration activity in the area and won the ‘Offshore Discovery of the Year’ award. In 2017, the Karamah #1 well which was drilled, identified a 5-metre oil bearing interval on the wireline logs and found hydrocarbon shows in several stratigraphic zones, confirming the presence of a working petroleum system in the block. In July 2020, the Ministry of Oil and Gas in Oman (now renamed Ministry of Energy and Minerals) approved the Field Development Plan for the Yumna Field and awarded Declaration of Commerciality. To-date, five production wells have been drilled in the Yumna Field: 2020: Yumna-1 well 2021: Yumna-2 well 2021: Yumna-3 well 2022/2023: Yumna-4 well 2023/2024: Yumna-5 well In 2021, three exploration wells that were drilled near the Yumna Field as a five-well campaign with major cost savings, confirmed the extent of the good quality Lower Aruma sandstone and will help to refine the understanding of the trap mechanisms in the area. Work-overs on the various production wells and replacement of electrical submersible pumps and flow lines have been carried out in recent years to extend the production lifespan of the Yumna Field. Yumna Field, Oman 24 Annual Report 2025
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