Rex buys into Norway blocks

摘要

Singapore-listed Rex International’s 65% indirectly owned subsidiary Lime Petroleum will receive 10% stakes in two licences in Norway from North Energy. Lime will acquire the assets via a co-operation agreement between Lime and North Energy. No consideration is needed for the transfer of the 10% stakes, which is pending regulatory approval. Production Licence 707 (PL 707) and PL 708 were awarded to North Energy in the 22nd Licensing Round by the Norwegian Oil and Energy Department in June this year.