News post

Lime Petroleum AS awarded one new licence in APA 2017

Lime Petroleum AS has been awarded a new offshore licence in the 2017 Awards in Predefined Areas round (APA2017). The licence is PL818B, an extension of licence PL818, which is held by the same partnership comprising operator Aker BP holding 40 per cent, Lime 30 per cent and Statoil 30 per cent. The two North Sea licences have significant exploration potential, with the principal prospect Orkja divided between them. A ‘drill-or-drop’ decision for the combined licences is expected summer 2018 with possible drilling in 2019.

With this award, Lime has a 20-30 per cent participating interest in a cluster of four licences in this oil prolific area that already has infrastructure in place, allowing a fast-track path to potential commercialisation.

On the Rolvsnes discovery in PL338C (Lime participation 30 per cent), the first 2000m test production well will be drilled starting late March 2018.