Rex International Wins 5 Offshore Norway Licenses

marinelink.com
Wednesday, January 22, 2014

The Group’s portfolio of licenses increased to 21, well ahead of its target of 20 licences by July 2014.
 
Rex International Holding Limited (“Rex International Holding” orthe “Company”, and together with its subsidiaries, the “Group”), has announced that its jointly-controlled entity, Lime Petroleum Norway AS (“Lime Norway”) has been awarded five newoffshore licenses in the 2013 Awards in Predefined Areas (APA 2013), according to a Norwegian Ministry of Petroleum and Energy press release dated 21 January 2014. The APA 2013 saw 48companies being offered participation in a total of 65 new production licenses on the Norwegianshelf; a new record both in the number of production licenses and the number of companies.
 
Mr Ivar Aarseth, Chief Executive Officer of Lime Norway, said, “We are very pleased to be awarded several of the licenses which we have identified using the direct hydrocarbon indicator, Rex Virtual Drilling, and look forward to working with established operators in the mature Norwegian Continental Shelf E&P arena, a well-known oil-prolific region. We are also heartened that by virtue of Rex Virtual Drilling, Lime Norway has been accorded Pre-qualified Petroleum Company status, allowing us to apply for a cash tax refund for 78 percent of exploration costs under the Norwegian Petroleum Tax Act.”
 
Mr Måns Lidgren, Chief Executive Officer of Rex International Holding, said, “With this round of awards, we have further grown our portfolio to 12 in Norway, and 21 internationally. We have already within the six-month mark of our listing in July 2013, surpassed our 12-month goal of growing our portfolio to 20 licences, from the initial 10 licenses. In 2014, we will continue to pursue more opportunities to grow our portfolio and with even more geographic diversity to mitigate investment and operational risks.”

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter January 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Delia Succeeds Schmidt as Ohmsett Program Manager

MAR Incorporated has named John Delia the Program manager for Ohmsett – The National Oil Spill Response Research & Renewable Energy Test Facility, succeeding Bill Schmidt who retired in December 2015.

SBM Offshore: US Authorities Reopen Corruption Probe

SBM Offshore, the world's top oil production ship leasing company, said on Wednesday that U.S. authorities had re-opened an inquiry into bribery allegations involving the Dutch company.

The Next Generation of Hull Performance Management

Hull performance monitoring solutions can offer significant fuel savings potential, a fact that is prompting growing interest from the maritime industry. To spur

Finance

Funding Secured for Project to Deepen the Delaware River

Dennis Rochford, president of the Maritime Exchange for the Delaware River and Bay, announced that President Obama’s FY17 proposed budget includes $33 million for the Delaware River Deepening Project.

Top 10 Shipowning Nations by Value

VesselsValue has provided a list ranking the top shipowning nations by value, including the percentage change difference against 2015 figures. Although the

Port of Hamburg Reports Bulk Cargo Jump in 2015

The Port of Hamburg reports higher bulk cargo throughput and strong growth in rail and inland waterway seaport-hinterland traffic in 2015 – downturn in container handling.

Energy

2016 a Busy Year for VLCC Deliveries - BIMCO

When it comes to delivering brand new VLCCs from shipyards in South Korea and China to owners and investor across the globe, 2016 is off to a flying start. Six

U.S. Okays ConocoPhillips Alaska LNG Exports

The U.S. Department of Energy approved ConocoPhillips' application to export about 40 billion cubic feet of natural gas from its Kenai liquefied natural gas export

Gamesa, Siemens Negotiating Wind Merger Terms

German engineering group Siemens and Spanish renewable energy group Gamesa are in final negotiations on a deal to merge their wind power assets, two sources familiar

News

US, India Consider Joint Patrols in South China Sea

The United States and India have held talks about conducting joint naval patrols that a U.S. defense official said could include the disputed South China Sea, a move that would likely anger Beijing,

No Need to Change Tug Workers’ Hours -Study

The American Waterways Operators (AWO), the national trade association for the tugboat, towboat and barge industry, hailed a study conducted for the Transportation

Danelec Marine Making Free ECDIS Upgrades

Ships with older Danelec ECDIS models are being upgraded to new hardware and software   Danelec Marine has launched a program to provide free upgrades of shipboard

Offshore Energy

SBM Offshore: US Authorities Reopen Corruption Probe

SBM Offshore, the world's top oil production ship leasing company, said on Wednesday that U.S. authorities had re-opened an inquiry into bribery allegations involving the Dutch company.

FSRU Golar Tundra Sold to Golar LNG Partners

Golar LNG Limited has entered into a purchase agreement to sell the Golar Tundra, a floating storage and regasification unit (FSRU), to Golar LNG Partners LP for a sale price of $330 million.

Parker Bestobell to Supply Valves for FSRU Newbuilds

Parker Bestobell Marine has recently completed a contract to supply cryogenic Globe and Check valves made in Sheffield, for Hoegh LNG’s series of five FSRUs (Floating

 
 
Maritime Security Maritime Standards Naval Architecture Offshore Oil Pipelines Pod Propulsion Port Authority Shipbuilding / Vessel Construction Sonar Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1383 sec (7 req/sec)