Oman
The offshore petroleum asset Block 50 concession in Oman is a key asset of the Rex International Holding group (the "Rex Group"). An oil discovery in the GA South well was made in 2014, the first offshore oil discovery east of Oman, after 30 years of exploration activity in the area. The oil discovery won the "Offshore Discovery of the Year" award in Oman. The Rex Group achieved first oil in February 2020 and Declaration of Commerciality in July 2020.
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Norway
Rex International Holding Group has been holding interests in licences in Norway since 2013. In 2021, Rex's indirect subsidiary Lime Petroleum AS's most significant transaction was its acquisition of a 33.8434% interest in the producing Brage Field, marking its transition from pure-play exploration to a full cycle oil and gas exploration and production company. Lime Petroleum AS has since added to its oil and gas production portfolio, a 25% interest in the Yme Field.
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Benin
Akrake Petroleum Benin S.A., an indirect subsidiary of Rex International Holding, secured a 76% interest in Benin's Block 1, Sèmè Field in 2023. The offshore Sèmè Field, discovered in 1969 and previously developed by Saga Petroleum, covers 551 sq km in shallow waters. Production was halted in 1998 due to low oil prices. There are plans to revive oil production, using Rex's cost-effective jack-up Mobile Production Unit (MOPU) and Floating Storage Unit (FSO) system, which has been tried and tested with success in the Yumna Field in Block 50 in Oman, operated by Rex's indirect subsidiary Masirah Oil Ltd.
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Germany
Lime Resources Germany GmbH, an indirect subsidiary of Rex International Holding, owns certain assets in the Rhein River valley in Germany, including the Schwarzbach oil field south of Frankfurt.
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Technology-based subsidiaries
Rex International Holding's ethos has always been rooted in technology and scientific innovation. Rex's technology-based subsidiaries include Xer Technologies Pte Ltd, which operates in the heavy-duty commercial drone business, and Rex Virtual Drilling, the Rex Group's proprietary liquid hydrocarbon indicator, used to de-risk the Rex Group's offshore and onshore oil and gas exploration and development assets.
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Email Alerts
To keep abreast of our latest news, you may wish to subscribe to the Rex International Holding email alert service. Our systems will automatically send you Company Announcements and SGXNet filings, with updates on the Group's offshore oil and gas activities in Oman, Norway and Benin, and onshore in Germany.
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