Lime Petroleum due Norwegian Sea stakes

Lime Petroleum Norway AS has agreed to acquire 50% of the PL760 and PL760B licenses in the Norwegian Sea from Enquest Norge AS. Terms weren’t reported.

The licenses are 25 km west of Norne oil and gas field in 370 m of water.

Rex International Holding Ltd., the Singapore-based owner of 65% of Lime Petroleum PLC, the acquirer’s parent, said exploratory targets are Cretaceous reservoirs productive in nearby Marulk gas field. It said a decision whether to drill on the acreage will be made in February.

Total operates the licenses with 50% interests.

Hibiscus Petroleum Sdn. Bhd., Kuala Lumpur, holds 35% interest in Lime Petroleum, which is based in Douglas, Isle of Man.

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


Logistics Risk Management in the Transformer Industry

Transformers often are shipped thousands of miles, involving multiple handoffs,and more than a do...

Secrets of Barco UniSee Mount Revealed

Last year Barco introduced UniSee, a revolutionary large-scale visualization platform designed to...

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...