Rex International Holding

Rex’s Norway subsidiary divesting stake in non-core Barents Sea asset
(Oct 15): Rex International’s 90% subsidiary Lime Petroleum AS is divesting its 20% stake in the Barents Sea licence PL850, a non-core asset, to an external third party. The divestment is part of Rex’s strategy for its asset portfolio in Norway, which is to focus on areas close to infrastructure in the Norwegian North Sea, while fully leveraging the group’s satellite technology-led ...
Rex International targets first oil production in 2H19, may be on cusp of turnaround
SINGAPORE (Sept 19): Rex International Holding is seeking to turn profitable in 2020 when two of its oil wells in Oman and Norway come on stream. On Sept 17, Rex also received a non-binding indication of interest for its concessions in Norway held under its subsidiary, Lime Petroleum. Rex aims to start production for its Block 50 Oman oilfield in 2H19, starting with production at 5,000 bpd. ...
Rex International aims for higher revenue in 2018
SINGAPORE (Dec 7): Rex International Holding, the oil exploration and production company, is aiming for higher revenue from 2018 and beyond. In a filing on Thursday, the group shared how it intends to create value for its key assets in Norway and Oman as well as its propriety Rex Virtual Drilling (RVD) technology. In 1H18, an appraisal well is to be spudded in the Edvard Grieg South ...
Rex maps out plan to develop North Sea licences
SINGAPORE (April 17): Rex International Holding has mapped out areas under its North Sea licences off Norway for development using its virtual drilling technology. Development feasibility studies are being carried out on the Edvard Grieg South (Rolvsnes) (EGS) discovery under licence PL338C, which is independently valued to have up to 77.9 million barrels of oil and up to 78.7 billion standard ...