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Rex International Holding Ltd. ( (SG:5WH) ) has provided an announcement.
Lime Petroleum Holding AS, an indirect 89.74 per cent subsidiary of Rex International Holding, has completed the hook-up of the Mobile Offshore Production Unit and Floating Storage and Offloading unit on the Sèmè Field in Benin. The FSO Kristina has been anchored, a flow-line installed from the Stella Energy 1 MOPU, and commissioning is underway with oil now flowing into the storage unit.
In the coming days, additional testing and commissioning work will focus on optimising production rates and moving into regular output from the field. The operational progress at Sèmè Field, operated by Akrake Petroleum Benin S.A., marks a key step toward sustained production that could enhance Rex’s production base and strengthen its presence in West African offshore oil development.
The most recent analyst rating on (SG:5WH) stock is a Hold with a S$0.14 price target. To see the full list of analyst forecasts on Rex International Holding Ltd. stock, see the SG:5WH Stock Forecast page.
More about Rex International Holding Ltd.
Rex International Holding Limited is a Singapore-based oil and gas exploration and production company, operating through subsidiaries such as Lime Petroleum Holding AS. The Group focuses on upstream activities, including offshore field development and production, with assets in regions like West Africa aimed at growing its reserves and output profile.
Average Trading Volume: 21,856,813
Technical Sentiment Signal: Strong Buy
Current Market Cap: S$247.4M
Find detailed analytics on 5WH stock on TipRanks’ Stock Analysis page.