Lime Petroleum Holding Signs Jack-Up Rig Contract For Drilling Campaign In Seme Field, Benin

Rex International Holding Limited wishes to announce that its 80.14 per cent subsidiary, Lime Petroleum Holding AS (“LPH”), has on 4 April 2025, signed a contract with Borr Gerd Limited, for the Gerd, a modern-built jack-up rig, which will be used for an anticipated 120-day drilling campaign in Benin. 

The Sèmè Field in Benin is operated by Akrake Petroleum Benin S.A. (“Akrake”), a wholly-owned subsidiary of LPH. Akrake, which holds an approximately 76 per cent* working interest in the Sèmè Field, aims to submit a field development plan to the Ministry of Energy, Water and Mines, and restart production in the field in the second half of 2025.

*Subject to the Benin government’s entitlements under the Production Sharing Contract