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Rex subsidiary partakes in North Sea oil discovery

Khairani Afifi Noordin
Khairani Afifi Noordin • 2 min read
Rex subsidiary partakes in North Sea oil discovery
Preliminary volume calculations indicate between 500,000 to 1.4 million cubic metre of recoverable oil equivalents. Photo: Bloomberg
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Oil exploration and production company Rex International Holding (SGX:5WH) has made a minor discovery in the PL867 Gjegnalunden well, which its subsidiary Lime Petroleum AS (LPA) has 20% interest in.

The operator Aker BP — which holds the remaining interests in the licence — is concluding operations and permanently plugging the well, which is customary for exploration wells in Norway.

The well is about 12 kilometres north of the Ivar Aasen field in the Norwegian North Sea, 187 kilometres southwest of the city of Haugesund.

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