Mainboard-listed oil exploration and production company Rex International Holdings has released its production update from its Norway and Oman oil fields for October.
According to the group, production from Norway and Oman totalled 10,027 barrels of oil equivalent per day (boepd) in October, up 9.4% m-o-m from 9,163 boepd recorded in September.
In a Nov 19 announcement, Rex’s subsidiary Lime Petroleum AS (LPA) says production at the Brage and Yme Fields combined, net to LPA, stood at 7,637 boepd in October. This up from 6,350 boepd in September.
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 2,555 stock tank barrels per day (stb/d) over October’s 29-day of production period. This is down from an average of 2,813 stb/d in September.
See also: OPEC’s dilemma: Another year of supply curbs or price slump
MOL says that due a planned two-day shutdown in mid-October, which comprised the successful integration of the bulk water system, this resulted in an estimated production increase of 400 barrels of oil per day (bopd) in overall production after Oct 18.
Additionally, MOL adds that gas lift systems have been initiated as at Oct 31, with the aim of further optimising operational efficiency and production capacity in conjunction with the bulk water and gas lift subsystems.
MOL is the operator and holds a 100 per cent interest in Block 50 Oman.
Shares in Rex International closed 4 cents higher, or up 3.78%, at 11 cents on Nov 19.
