Project Profile
Location: south of the Edvard Grieg field, Utsira High, North Sea, Norway
Water Depth: 100 metres
Start-up Year: -
The PL410 license is located south of the Edvard Grieg field on the Utsira High in the North Sea in water depth of about 100 metres. The license contains a number of interesting exploration targets that are being evaluated. Drilling could take place in late 2016, given that a drill decision milestone is taken at the license in the first quarter of 2016.
Lime Petroleum is a jointly-controlled entity by Rex International Holding and Hibiscus Petroleum Berhad through their respective subsidiaries Rex Middle East Ltd and Gulf Hibiscus Ltd. Rex controls 56.4% of the shares directly and 8.6% indirectly through Schroder & Co Banque S.A. Hibiscus controls the remaining 35% of the shares.
Operators:
Lundin Petroleum: Operator with 52.35% interest
Lime Norway: 30% interest (Rex International Holding and Hibiscus Petroleum Berhad)
Statoil: 17.65% interest