Lime lifts stake in offshore Norway licenses

Offshore staff

KUALA LUMPUR, Malaysia – Hibiscus Petroleum’s jointly controlled entity Lime Petroleum Norway has completed a farm-in agreement with Tullow Oil Norge.

This gives Lime an additional 20% interest, subject to regulatory approvals, in Norwegian Sea licenses PL591, PL591B and PL591C, lifting the company’s overall stake to 25%.

Tullow, which remains operator, plans to spud an exploration well on the 256-MMboe Zumba prospect this summer.

The licenses are in 300 m (984 ft) of water in the Halten area of the Norwegian Sea.

02/18/2015

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...

Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...