Rex International's Unit Completes Hook-Up of Production Unit in Benin; Shares Up 3%
MT Newswires
Mar 06
Rex International's (SGX:5WH) subsidiary, Lime Petroleum, completed the hook-up of the mobile offshore production unit and the floating storage and offloading unit at the Seme Field in Benin, according to a Thursday filing with the Singapore Exchange.
Shares of the oil exploration firm were up nearly 3% in Friday's late-morning trading.
Following the completion, FSO Kristina was anchored in place while oil is now flowing to the FSO.
The company expects further testing and commissioning in the coming days, with the aim to streamline production rates and start regular production, the filing said.
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