Equinor to farm out interests in two Norwegian Sea licenses

Equinor ASA has agreed to transfer 20% interest in two Norwegian Sea licenses to Lime Petroleum AS (LPA), a 90% subsidiary of Rex International Holding Ltd., pending regulatory approval, LPA said Apr. 9.

The licenses, PL263D and PL263E, lie on the Halten Terrace between Asgard and Midgard fields, some 25 km southwest of the newly issued PL1062 license. Exploration drilling on the licenses is expected to begin late this year with a well targeting the Apollonia prospect with a reservoir in the traditional Jurassic section.

Equinor is operator of the licenses with 80%. Pandion Energy AS holds the remaining 20%.