Mainboard-listed oil exploration and production company Rex International Holdings has released its production update from its Norway and Oman oil fields for September.
According to the group, production from Norway and Oman totalled 9,163 barrels of oil equivalent per day (boepd) in September, down 21.2% m-o-m from the 11,631 boepd recorded in August.
In an Oct 10 announcement, Rex’s subsidiary Lime Petroleum AS (LPA) says production at the Brage and Yme Fields combined, net to LPA, stood at 6,350 boepd in September. This is down from 8.658 boepd in August.
Currently, LPA holds a 33.84% and 10% in Brage field and Yme field, respectively. The operator of the Brage field is OKEA ASA, while Repsol Norge AS operates the Yme field.
LPA adds: “For both fields, there were scheduled and unscheduled shut-ins for well intervention, as well as other maintenance & technical well management and testing activities that were in the ordinary course of operations during the month.”
In a separate announcement, Masirah Oil Limited (MOL), another Rex subsidiary, says gross production from its Yumna field in offshore Block 50 Oman amounted to an average of 2,813 stock tank barrels per day (stb/d) over September’s 30-day production period. This is down from an average of 2,973 stb/d in August.
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That said, MOL adds that plans to improve and increase water and oil production capacity of its flow line is expected to be completed in mid-November, subject to weather conditions.
MOL is the operator and holds a 100 per cent interest in Block 50 Oman.
Shares in Rex International closed 0.1 cents higher, or up 0.77%, at 13.1 cents on Oct 10.
