Lime negotiates farm-ins to North Sea Brasse license

Nov. 8, 2023
Lime Petroleum has entered agreements with DNO Norge and OKEA to acquire respective interests of 10.7212% and 6.2788% in PL740.

Offshore staff

OSLO, NorwayLime Petroleum has entered agreements with DNO Norge and OKEA to acquire respective interests of 10.7212% and 6.2788% in PL740 in the Norwegian North Sea, containing the Brasse Field discovery.

Operator OKEA assesses the field’s recoverable resources at 21 MMboe to 29 MMboe, and Lime’s 17% farm-in would give it about 4 MMboe of contingent resources.

M Vest Energy is the other licensee.

Brasse, in 407 ft of water, was discovered and appraised between 2016 and 2018. The partners plan a 13-km subsea tieback to the OKEA-operated Brage platform, and they expect to submit a plan for development and operation to the Norwegian authorities in early 2024.

First production could follow early in 2027.

11.07.2023

Related

Courtesy Lime Petroleum
Brage Field & Yme Field Production Update – February 2023
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Photo 155731948 © Hyotographics | Dreamstime.com
Norwegian North Sea
Norwegian North Sea
Norwegian North Sea
Norwegian North Sea
Norwegian North Sea
Courtesy Norwegian Petroleum Directorate
Production from Yme Field will help Lime’s parent company Rex Group move closer to its target of 20,000 bbl/d of production.
Production from Yme Field will help Lime’s parent company Rex Group move closer to its target of 20,000 bbl/d of production.
Production from Yme Field will help Lime’s parent company Rex Group move closer to its target of 20,000 bbl/d of production.
Production from Yme Field will help Lime’s parent company Rex Group move closer to its target of 20,000 bbl/d of production.
Production from Yme Field will help Lime’s parent company Rex Group move closer to its target of 20,000 bbl/d of production.