Lundin Petroleum AB has, through its wholly-owned subsidiary Lundin Norway AS, agreed to acquire Lime Petroleum AS’ working interests in the Rolvsnes discovery in PL338C, the recently awarded PL338E and in the Goddo prospect in PL815. The key asset in the portfolio is the Rolvsnes discovery which had a successful well test and appraisal in August last year.
The transaction involves a cash consideration to Lime Petroleum of USD 43 million and a contingent payment of a further USD 2 million, with completion subject to customary government approvals. Lime Petroleum is a 90% owned subsidiary of Rex International Holding listed on the Singapore stock exchange.
About Lime Petroleum
Lime Petroleum is a small exploration company established in 2012. Through exploration focus the company has built a balanced portfolio of licences in frontier and mature areas on the NCS.
About Rex International Holding
Rex is an independent E&P company focusing on Norway and Oman. The company employs proprietary Rex Virtual Drilling technology to discover new assets.
About Lundin Petroleum
Lundin is a leading independent E&P company with a strategic focus on Norway since entry on the NCS in 2003. Today, Lundin is one of the largest operated acreage holders in Norway with a strong production growth profile for coming years. https://www.lundin-petroleum.com/