Lime Petroleum awarded four new licences in Norway, including one with discovery

• Three new licences in Norwegian Sea, one in North Sea

• 50 per cent interest in Falk/Linerle discovery in PL1125 to be added to list of development projects

• Three discoveries in Norway portfolio now


Rex International Holding announced that is 90 per cent subsidiary Lime Petroleum AS (“LPA”), has been awarded participating interests in four new offshore licences, including one with a discovery for development, in the 2020 Awards in Predefined Areas (“APA 2020”) round in Norway.

 Licence

LPA’s interest

Location

Operator

Other Partners

PL263F Apollonia

20%

Norwegian
Sea

Equinor Energy AS (51%)

Pandion Energy AS (20%)

ONE-Dyas Norge AS (9%)

PL1093 El Teide/
Timanfaya

20%

North Sea

Chrysaor Norge AS (50%)

Petoro AS (30%)

PL1111 Kings Canyon

40%

Norwegian
Sea

INEOS E&P Norge AS (60%)

---

PL1125 Falk/Linerle

50%

Norwegian
Sea

OKEA ASA (50%)

---


The new awards bring to total, interests in 13 licences in LPA’s portfolio, including three discoveries – Shrek, Apollonia and Falk/Linerle – with potential for development.

All licences in LPA’s portfolio are located in core areas close to infrastructure on the Halten Terrace and Nordland Ridge in the Norwegian Sea, and by the Utsira High area in the North Sea.

Mr Svein Kjellesvik, Executive Chairman of LPA, said, “The award of equity interests in four high quality assets to LPA is an affirmation of our role as a valued participant, along with best-in-class energy players, on the Norwegian Continental Shelf.

"PL263F Apollonia is a significant add-on to our existing 20 per cent interests in the PL263D/E Apollonia licences, where a gas discovery was made in 2020. PL263D/E/F Apollonia, together with the Falk/Linerle discovery in PL1125, have potential for possible commercial field development in the near future.

"The Shrek discovery in PL838, in which we hold a 30 per cent interest, is also progressing towards a development decision.”

550 3dan brostrom

Dan Brostrom (photo), Executive Chairman of Rex, said,

“LPA has done well in picking assets for its portfolio; and its successes with the Rolvsnes, Shrek and Apollonia discoveries in recent years attest to this.With the latest APA 2020, LPA is strengthening its portfolio with a continuous pipeline of exploration drill projects near infrastructure and three discoveries with commercial field development potential to unlock more value as contingent resources are added over time.”

According to the Norwegian Ministry of Petroleum and Energy’s press release dated 19 January 2021, 30 companies have been offered ownership interests in a total of 61 production licences on the Norwegian Continental Shelf in the APA 2020 licensing round.

Of the 61 production licences, three are in the Barents Sea, 24 are in the Norwegian Sea and 34 are in the North Sea.


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