Lime Petroleum Participates in Small Gas Discovery in Norwegian Sea

Source: www.gulfoilandgas.com 11/2/2020, Location: Europe

Rex International Holding Limited, and together with its subsidiaries, the “Group”), wishes to announce that the operator, Equinor Energy AS (“Equinor”), has completed drilling an exploration well on the Apollonia prospect in the Norwegian Sea licences PL263D/E, in which Rex’s 90 per cent subsidiary Lime Petroleum AS (“LPA”) has 20 per cent interests. The well was drilled approximately nine kilometres east of the Maria field. The primary exploration objective was to prove hydrocarbons in Middle Jurassic sandstones in the Garn and Ile formations. The well penetrated 83 metres of good reservoir-quality sandstone in the Garn formation. No hydrocarbons were identified in the Garn and Ile formations.

A gas column of nine metres was found in the shallower Lower Cretaceous Lange Formation. Preliminary analysis suggests a small gas discovery with recoverable reserves of between three and 10 million barrels of oil equivalent. This discovery will be evaluated together with other discoveries and prospects in the vicinity for further exploration and commerciality.


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