Rex International Holding anticipates the recommencement of drilling activities later this year at the shallow-water Sèmè Field, located in Block 1 offshore Benin.
Akrake Petroleum Benin, in which Rex International indirectly holds an 80.14% stake, has scheduled the drilling of a vertical exploration and appraisal well by mid-2025. The objective is to evaluate multiple reservoirs within the field.
Akrake Petroleum, a subsidiary of Porto Novo Resources, formalized its commitment to Block 1 offshore Benin through a production-sharing contract signed in December 2023.
Originally discovered by Union Oil in 1969, the Sèmè Field was developed by Norwegian independent Saga Petroleum in 1982. Over a 16-year production span, the H6 reservoir yielded 22 million barrels of oil before operations ceased prematurely.
Should the upcoming drilling campaign prove successful, the well will be repurposed as a vertical producer. Two additional horizontal wells are expected to follow in 2026. The field’s proposed production setup includes a drilling platform, a mobile offshore production unit (MOPU), and a floating storage and offtake (FSO) unit.
In mid-2024, Rex International Investments entered an agreement with Monarch Marine Holding and Peter M. Steimler to merge Lime Petroleum and Porto Novo Resources into a new Norwegian-incorporated joint venture.
Additionally, in October 2024, TGS expanded its offshore Benin MegaSurvey’s 3D seismic coverage in collaboration with Société Nationale des Hydrocarbures du Bénin (SNH-B). This initiative aims to integrate 2,248 square kilometers of new conventional 3D data, improving insights into previously untapped exploration potential.
Source: Offshore Magazine
