Rex International Holding, a technology-focused oil exploration and production company, is making headway in the North Sea as its subsidiary, Lime Petroleum AS (LPA), embarks on a significant drilling project. On 11 January 2023, the operator Aker BP initiated drilling for an exploration well in the PL867 licence, where LPA holds a 20% interest. This well targets the promising Gjegnalunden prospect within the productive Hugin reservoir.
Lars Hübert, CEO of LPA, expressed enthusiasm about the drilling operation, stating, “LPA has been actively involved in this region of the North Sea for an extended period, and we are thrilled to see the Gjegnalunden well being drilled. A discovery here could be swiftly developed and connected to nearby fields, enhancing the overall potential of the area. Additionally, it would bolster the prospectivity in the adjacent PL818 Orkja licence, where LPA holds a 30% stake.”
The PL867 licence is situated on the Gudrun Terrace in the Central North Sea. The drilling operation will take place at a water depth of 116 metres, utilising Saipem’s Scarabeo 8 semi submersible rig, with an estimated duration of approximately 27 days. As the drilling progresses, the industry will be watching closely for any developments that could significantly impact the region's oil and gas landscape.