Offshore staff
SINGAPORE – Rex International Holding’s 90%-owned subsidiary Lime Petroleum has signed an agreement to acquire 20% interests from Equinor in licenses PL263D and PL263E in the Norwegian Sea, pending regulatory approvals.
Exploration drilling is due to start in late 2020, with the planned well targeting the large Jurassic Apollonia prospect.
According to Rex, the prospect has strong support from its proprietary Rex Virtual Drilling (RVD) technology.
Both permits are on the Halten Terrace, 25 km (15.5 mi) southwest of the newly issued PL1062 license. Equinor is the operator, with Pandion Energy the other current partner.
Lars Hübert, CEO of Lime, said both permits are well placed between the Åsgard and Midgard fields. “We have built up significant expertise in the area, and can effectively employ our strategy of technology-led, near-field exploration.”
The company plans further application of RVD to evaluate the license area.
04/09/2020
