Lime negotiates farm-ins to North Sea Brasse license

Offshore staff

OSLO, Norway — Lime 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