Rex International Holding Limited has announced significant progress in its subsidiary Lime Petroleum’s operations in Norway. Lime, alongside its partners, has been awarded a 25% interest in the North Sea licence PL1279 during the 2025 Awards in Predefined Areas round. This licence includes the Vette discovery, which is set to be developed with the Yme Inspirer.
The Norwegian Offshore Directorate revealed that 19 companies were granted ownership in 57 production licences on the Norwegian Continental Shelf, with 31 located in the North Sea. Lime’s involvement in these developments highlights its strategic positioning in the region.
In addition to the new licence, Lime has completed a three-well campaign on the Brage platform, which began on 8 July 2025. The campaign included an exploration well, an appraisal well, and a new production well. The Talisker production well has commenced operations, with promising results. The Talisker exploration well uncovered commercial oil discoveries in the Cook and Statfjord formations, with estimated recoverable resources between 16 and 33 million barrels of oil equivalent.
Furthermore, the PL740 Bestla drilling campaign, a tie-back to the Brage Field, has been completed in 129 days. The campaign achieved significant milestones, including the successful appraisal of the West Segment and the delivery of OKEA ASA’s first Multi-Lateral Technology well.
These developments underscore Lime Petroleum’s commitment to enhancing its portfolio and production capabilities in Norway, with future plans including the installation of Christmas trees in Q3 2026.
