Rex IH Gives Norway Drilling, License Updates
International Holding Limited, one of the largest companies listed on the Catalist of the Singapore Exchange Securities Trading Limited, shared its latest developments in its Norway portfolio, held through its 65 percent owned indirect subsidiary, Lime Petroleum Norway AS and investee company, North Energy ASA. Måns Lidgren, Chief Executive Officer of Rex International Holding, said, “Besides growing our portfolio through farm-ins, participation in government award of licenses and investment holdings in other exploration and production companies, we also recognize the importance of
North Energy’s New Farm-in Well is Spudded
Rex International Holding Limited shared that North Energy ASA, in which the group holds an approximate stake of 5.35 percent, had entered into an agreement with Tullow Oil Norge to acquire a 10 percent stake in PL 507 on 26 June 2014. The agreement is conditional on government approval, and upon completion, the effective date of the acquisition has been set as January 1, 2014. Exploration drilling had begun on July 1, 2014 on the Lupus oil prospect in PL 507 in the North Sea. Located about 35 kilometers south of the Oseberg field, well 31/10-1 is being drilled by the Borgland Dolphin in about 120
Spike Increases Barents Sea Presence
exciting region.” comments Bjørn Inge Tønnessen, CEO of Spike Exploration. After the completion of the agreement, the PL722 group of partners will consist of GDF Suez E&P Norge AS (30%, operator), Spike Exploration Holding AS (15%), Rocksource Exploration Norway AS (20%), North Energy ASA (20%) and Tullow Oil Norge AS (15%) while the PL49/B/C partners will be Det norske oljeselskap ASA (30%, operator), Dana Petroleum Norway AS (24%), Fortis Petroleum Norway AS (16%), Spike Exploration Holding AS / Bridge Energy Norge AS (15%) and Tullow Oil Norge AS (15%). The transaction
February 2024
