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Rex International subsidiary acquires 40% stake in two North Sea licenses with two discoveries

Felicia Tan
Felicia Tan4/18/2022 08:53 AM GMT+08  • 3 min read
Rex International subsidiary acquires 40% stake in two North Sea licenses with two discoveries
The licenses come with the Iving and Evra discoveries and are located in the Utsira High area. Photo: Rex International
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Rex International Holding’s 91.65%-owned subsidiary, Lime Petroleum AS, has signed an agreement with MOL Norge AS to acquire the latter’s 40% interests in licences PL820 S and PL 820 SB in the North Sea on April 14.

The licenses come with the Iving and Evra discoveries and are located in the Utsira High area. The area is adjacent to the giant Vår Energy-operated Balder field, and just north of PL818 Orkja and PL867 Gjegnalunden in which Lime has 30% and 20% interests respectively.

According to Rex International, Lime has significant experience in the area from the exploration and appraisal drilling on the Rolvsnes discovery.

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