Ineos completes Norwegian Sea farm-out to Rex unit

June 1, 2020
Ineos E&P Norge AS closed a deal May 29 to transfer 15% interest in two Norwegian Sea licenses to Lime Petroleum AS (LPA), a 90% subsidiary of Rex International Holding Ltd., LPA said June 1.

Ineos E&P Norge AS closed a deal May 29 to transfer 15% interest in two Norwegian Sea licenses to Lime Petroleum AS (LPA), a 90% subsidiary of Rex International Holding Ltd., LPA said June 1.

The farm-in agreement, signed in March, is for Ineos-operated licenses PL937 and PL937B in Froya High in water depth of 325 m. Njord field is 30 km to the north.

Exploration drilling of the Far Canyon prospect in a Jurassic reservoir is expected in early 2021.