Lime also has three discoveries with commercial field development potential; Shrek, Iving and Falk, to unlock more value as contingent resources are added over time

oil-rig-g8c6a7740e_640

Lime Petroleum awarded two new licences in Norway. (Credit: Keri Jackson from Pixabay)

Lime Petroleum AS (“Lime”) is pleased to announce that it has been offered participating interests in two new offshore licences, in the 2022 Awards in Predefined Areas (“APA 2022”) round in Norway.

Licence Lime’s interest Location Operator Other Partner
PL1178 50% North Sea OKEA ASA 50% —
PL1190 30% Norwegian Sea Harbour Energy 50% PGNiG 20%

 

Mr Lars Hübert, Chief Executive Officer of Lime, said, “The award of equity interests in two high quality assets to Lime is an affirmation of our role as a valued participant, along with best-in-class energy players, on the Norwegian Continental Shelf. PL1190 is a high potential prospect, which can readily be tied back to the Heidrun field in case of an oil discovery, and to Åsgard in case of a gas discovery. Located next to the Brage Field in which Lime has a 33.8434 per cent interest, PL1178 can add valuable additional resources to Lime’s main producing field.”

Lime’s previous successes with the Rolvsnes, Shrek and Sierra South discoveries attest to its ability to pick quality assets for its portfolio. With the latest APA 2022, Lime is strengthening its portfolio with a continuous pipeline of exploration drill projects near infrastructure. Lime also has three discoveries with commercial field development potential; Shrek, Iving and Falk, to unlock more value as contingent resources are added over time.

According to the Norwegian Ministry of Petroleum and Energy’s press release dated 10 January 2023, 25 companies have been offered ownership interests in a total of 47 production licences on the Norwegian Continental Shelf in the APA 2022 licensing round. Of the 47 production licences, two are in the Barents Sea, 16 are in the Norwegian Sea and 29 are in the North Sea.

Source: Company Press Release