Singapore’s Rex International Unveils Plans for Offshore Assets in Benin and Norway

Rex International, a key player in the oil and gas industry, has recently provided insights into the upcoming strategies of its affiliates concerning assets located offshore Benin and Norway. Through its ownership in Lime Petroleum Holding and its subsidiaries Akrake Petroleum Benin and Lime Petroleum in Norway, Rex International maintains a strong presence in these regions.

Norway Operations

Lime Petroleum, based in Norway, is actively involved in various projects, including the Brage and Yme production fields, the Bestla field development project, and multiple exploration licenses with significant discoveries and prospects.

The Brage field, which has shown consistent production performance, experienced an oil discovery in late May along its eastern flank. Lime Petroleum, with a substantial interest in the field, anticipates an increase in production over the coming months as promising wells are expected to become operational.

Furthermore, Lime Petroleum’s combined production from the Yme and Brage Fields is projected to reach between 10,000 and 11,000 barrels of oil equivalent per day (boepd) for 2025, representing a notable increase from previous estimates.

In addition to ongoing production activities, Lime has strategically streamlined its exploration license portfolio, divesting certain assets while acquiring new prospects such as PL1252 Barmuda. The company is also progressing with development plans for the Lunde discovery in PL838, aiming for operational readiness by 2026.

Benin Redevelopment

Akrake, the operator of Benin’s Sèmè field, has embarked on a phased redevelopment plan for the field under a production sharing agreement. With the aim of revitalizing production at the Sèmè field, Akrake has completed the reprocessing of seismic data, finalized a detailed development plan, and commenced offshore operations, including a site survey for drilling activities.

Notably, a drilling campaign is set to commence in July 2025, with the drilling rig scheduled to arrive in Benin later this month. The campaign, spanning 120 days, will focus on drilling appraisal and production wells to tap into untapped reservoir sections and boost production rates to approximately 16,000 bopd.

Following the successful completion of Phase 1 activities, Akrake plans to evaluate Phase 2, which may involve further development of reservoirs and additional drilling to maximize the field’s potential.

In summary, Rex International and its affiliates are gearing up for a period of significant growth and operational milestones in both Benin and Norway, showcasing their commitment to value creation and sustainable development in the energy sector.