Lime lifts stake in offshore Norway licenses

Hibiscus Petroleum’s jointly controlled entity Lime Petroleum Norway has completed a farm-in agreement with Tullow Oil Norge.

Feb 18th, 2015

Offshore staff

KUALA LUMPUR, Malaysia – Hibiscus Petroleum’s jointly controlled entity Lime Petroleum Norway has completed a farm-in agreement with Tullow Oil Norge.

This givesLime an additional 20% interest, subject to regulatory approvals, in Norwegian Sea licenses PL591, PL591B and PL591C, lifting the company’s overall stake to 25%.

Tullow, which remains operator, plans to spud an exploration well on the 256-MMboeZumba prospect this summer.

The licenses are in 300 m (984 ft) of water in the Halten area of the Norwegian Sea.

02/18/2015

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