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Rex International Holding sees increased oil production and positive cash flow for FY2021

Chloe Lim
Chloe Lim1/13/2022 7:52 PM GMT+08  • 3 min read
Rex International Holding sees increased oil production and positive cash flow for FY2021
Rex’s 2021 Round-up sees a transformational year in increased oil production and positive cash flow
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Rex International Holding Limited closed the year 2021 with the acquisition of a 33.84% stake in Brage Field operated by Wintershall Dea Norge AS. The acquisition was made by Rex International’s subsidiary Lime Petroleum AS (LPA), and was the group’s most significant transaction in 2021.

The acquisition also fulfilled LPA’s ambition to transition from pure-play exploration to a full cycle exploration and production company on the Norwegian Continental Shelf, and to establish recurring cash flow, as well as develop and drive further value in LPA’s existing portfolio.

The move tops off an eventful year marked by increased oil production in Oman amid rising oil prices.

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