OSLO, Norway — Lime Petroleum has completed a farm-in transaction with MOL Norge in the Norwegian North Sea.
The company now holds 40% interests in licenses PL820 S and PL820 SB on the Utsira High, containing Iving and Evra discoveries. The location is close to Vår Energy’s current redevelopment of the Balder Field, and just north of PL818 Orkja and PL867 Gjegnalunden, in which Lime has respective interests of 30 and 20%.
Lime planned to seek regulatory approval to assume MOL’s operatorship of its two new licenses.
According to the Norwegian Petroleum Directorate, Iving and Evra—discovered in 2019 and appraised in 2021—hold recoverable resources of about 11.45 MMboe.