Norway

Lime Petroleum AS

Lime Petroleum AS (“LPA”) was established in 2012 with offices at Skøyen in Oslo. The company was pre-qualified in February 2013 as a partner company and in March 2023 as an operator on the Norwegian Continental Shelf (NCS). LPA has since built a portfolio of assets focusing on mature areas. LPA’s strategy for organic and inorganic growth includes participating in licensing rounds, exploration activities, and actively seeking acquisitions of producing fields and development projects. Exploration activities are focused on high-impact targets within mature areas of the NCS, while LPA's acquisition strategy is to select assets with cash flow and upside potential.

LPA holds interests in a dozen licences on the Norwegian Continental Shelf, including a 33.8434% interest in the producing Brage Field and a 25% interest in the producing Yme Field.

LPA uses high-quality seismic data and the Group’s Rex Virtual Drilling (“RVD”) technology together with conventional seismic attributes and analysis of the petroleum systems in its exploration efforts, and to select and build a portfolio of investments in the NCS. The licences are in oil-prolific areas that already have producing fields and pipeline infrastructure in place, allowing for a rapid path to potential commercialisation and return on investment when more oil discoveries are made in LPA’s assets.