Lime Petroleum Boosts Hydrocarbon Production with Drilling Activities in Benin and Norway

Lime Petroleum, a subsidiary of Rex International Holding, is making significant strides in its efforts to enhance hydrocarbon production. The company is actively pursuing drilling activities off the coasts of Benin and Norway, while also progressing with the conversion of a mobile offshore production unit (MOPU) in Dubai and the delivery of a floating storage and offloading unit (FSO) on schedule for production commencement in the next quarter.

Benin Operations

Akrake Petroleum Benin, a wholly-owned subsidiary of Lime and operator of the Sèmè field, has initiated drilling activities at the field using Borr Drilling’s Gerd jack-up drilling rig. This marks the beginning of a 100-day three-well work program for the development project in Block 1, covering 551 square kilometers in shallow waters of 20 to 30 meters.

The conversion of the MOPU in Dubai is progressing as planned, with dry docking and underwater work completed. This enables the installation of process equipment onto the vessel to commence. The delivery of the MOPU to Akrake and the dry docking of the FSO, contracted in April, are on track for production commencement in Q4 2025.

The Sèmè field, discovered in 1969 by Union Oil and previously developed by Norway’s Saga Petroleum, has a rich history of oil production. Production ceased in the late 1990s due to low oil prices after yielding approximately 22 million barrels of oil.

Norway Operations

Lime’s activities in Norway include operations at the OKEA-operated Brage platform, where production has exceeded expectations. Concurrent drilling operations are ongoing at Brage and Bestla, which is tied back to the Brage asset.

A three-well campaign is underway in the Talisker area of the Brage field to explore deeper layers, delineate the currently producing Oseberg section, and add a production well in the Oseberg formation.

CEO’s Perspective

Lars B. Hübert, Chief Executive Officer of Lime, expressed his excitement about the company’s achievements in Benin and Norway. He emphasized the upcoming first oil production in Benin, the increased production at Brage, and the potential for Bestla to come online in Norway. Additionally, he highlighted plans to boost production in the Schwarzbach/Erfelden area in Germany.

He stated, “The heightened activity aligns with our strategy to enhance production rates across our portfolio in the short term.”