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.