Middle East

First oil discovery in the east of Oman

Muscat: Hibiscus Petroleum jointly-controlled entity with Lime Petroleum, Masirah Oil Limited, has hit oil in its second exploration well in Block 50 Oman.

"The discovery of hydrocarbons in second exploration well is a significant step towards the deepening of our knowledge and understanding of the offshore geology in the east of Oman, where no discovery has been made before," said Hans Lidgren, chairman of Masirah said in statement yesterday.

"The results from this well are vital for the future development of this block. This discovery confirms the high quality and value of the Oman asset," he added.  [05/02/14]

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